Despite reporting a 14% year-on-year drop in third quarter profits and the postponement of its capital increase, drinks giant InBev has announced that its $52 billion deal acquisition of AnheuserBusch will go ahead.
The Belgian brewer saw its profits fall to €447 million from €519 million over the same period last year but remains optimistic for the future.
“We believe we are equipped for the coming challenging economic environment,” said CEO Carlos Brito. “Not only has the beer business generally shown resilience in tough times, but we also operate with a lean structure with great geographic diversification between emerging and developed markets.
“We also look forward to closing our combination with AnheuserBusch, which will increase our exposure to the US, a ‘mature’ yet growing market.”
Brito also reiterated the importance of the acquisition for the two companies. “We will be able to expand the Budweiser brand globally and strengthen the presence of our global brands in the US,” he said.
“Our focus for the newly combined company will be threefold: integrating the businesses, deleveraging the company and delivering the expected synergies.”
The takeover was confirmed in July after a hostile bid from InBev. The offer led to tension between the Busch family with CEO August A Busch IV vehemently against the bid while his uncle, Adolphus, publicly supported it. The agreement ultimately resulted in the demotion of August from the executive board of the combined company.
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