AB InBev to take top roles in SABMiller takeover, 576 UK jobs could go

AB InBev managers will take over 19 out 20 positions, in a agreement thought to make up for the weak sterling in light of Brexit. The decision is yet to be voted by shareholders.

On Thursday, the brewer of Budweiser and Stella Artois said the headquarters of the new company, which is yet to be named, will remain in Leuven, Belgium and operations will be managed from New York.

Peroni brewer SABMiller employs 51 people in its London headquarters and 523 in Woking, Surrey, which would be kept open for a transitional period. Around 576 UK jobs could go following the takeover.

AB InBev said: “We can confirm… SABMiller’s existing UK locations will be significantly impacted after the combination completes. Any changes affecting employees in the UK would be implemented with due respect for applicable legal considerations and consultation requirements.”

The new company, which will brew about one in three beers sold worldwide, will be run by functional chiefs and zone presidents in nine global locations to "maximize growth opportunities and build on the strengths of both SABMiller and AB InBev in their respective markets". They will report to AB InBev chief executive Carlos Brito.

It is uncertain what roles SABMiller chief executive Alan Clarke and chief finance officer Domenic DeLorenzo will have in the new company or if they will stay.

Recently SABMiller managing director Mauricio Leyva was named president of the Middle Americas region.

SABMiller offices in Miami, Hong Kong and Beijing will close, and its European brands Perono Grolsch and Meantime will be sold to Japan’s Asahi.

Shares in SABMiller were up 0.34% to 4,349p at 1514 BST and shares in AB InBev were up 0.05% to 123.71 cents at 1017 EDT.