New Delhi: Breweries major AB InBev has received fair trade regulator CCI's approval to acquire its close rival SABMiller for about 71 billion pounds.
Last year, Anheuser-Busch InBev (AB InBev) said that it had completed an agreement to acquire SABMiller Plc, making it one of the largest deal in the breweries sector.
Belgium-based AB InBev is engaged in production, marketing and distribution of beer, among others.
Its portfolio include brands like Budweiser, Budweiser Magnum, Corona, Hoegaarden, Stella Artois and Leffe.
In a tweet today, Competition Commission of India (CCI) said it has approved the "acquisition of SABMiller Plc by Anheuser-Busch InBev SA/NV".
SABMiller, founded in 1895, has more than 200 beer brands in its portfolio and 70,000 employees in over 80 countries.
In India, it is primarily engaged in the production, marketing and distribution of beer. Some popular brands in its kitty are Knockout, KO, Haywards, Royal Challenge and Foster's.
For this case, CCI considered "market for the production and distribution of beer in India" as the relevant market.