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Wednesday’s surprise raids by the Competition Commission of India (CCI) targeted offices in the city of Hyderabad, and some retailers in nearby Telangana state, the five sources said, in one of the biggest such industry crackdowns in recent years.
Krishna Subramanian's Captiv8 is in trouble after a marketing campaign between Dylan Mulvaney and Bud Light sparked backlash.
The company, as per its strategy, will now also focus on the fast-growing energy drink market by extending its brand Budweiser into the segment and aims to corner a 10 per cent market share in the next two years, said a company official.
AB InBev continues to argue against the ban saying it must be quashed as the company was not given adequate notice beforehand, according to a source familiar with the matter.
The Competition Commission of India (CCI) launched the investigation after AB InBev told the watchdog it had detected an industry cartel, leading in 2018 to dawn raids at the three brewers' offices to collect evidence.
According to a Statista, the beer market generated $3.8 billion in revenue in 2018 and is expected to grow eight percent annually from 2019-23
Along with UB, London Pilsner and Heineken beer also plan to launch a slew of zero-alcohol beer in Gujarat as well as elsewhere
Anheuser-Busch InBev had agreed to sell the brands, which include the Czech market leader Pilsner Urquell, Poland's Tyskie and Lech and Hungary's Dreher, to help get clearance from competition regulators for its USD 100 billion takeover of SABMiller.
AB InBev, the brewer of Budweiser and Stella Artois, is already the world's top brewer and the SABMiller acquisition for USD 104 billion is in line to be the third largest merger in history.
The offer values SABMiller at around £79 billion (USD 104 billion). In November, it was worth around 70 billion pounds, or USD 106 billion by the exchange rates at the time.
More than 100 million viewers in the United States and millions more around the world are expected to view Sunday's Super Bowl in Santa Clara, California.
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.
The sale of the brands and their related businesses in Italy, the Netherlands and Britain would be conditional on AB InBev acquiring SABMiller in a cash and share offer currently worth some 72 billion pounds (USD 108 billion).
AB InBev, whose takeover of SABMiller would be one of the largest mergers in corporate history, formally announced early in November that it would buy SABMiller for $106 billion. It also said that it agreed to sell the latter's stake in US venture MillerCoors to help win regulatory approval.
The agreement is set to draw political ire in a US presidential election year for Pfizer's decision to use the transaction to redomicile in Ireland, where Allergan is registered, in a so-called "inversion," thereby reducing its corporate tax rate.
After a long-running saga, the giant behind top lager brands like Beck's, Budweiser and Stella Artois has finally agreed on the terms to buy the London-listed maker of Foster's, Miller Genuine Draft and Peroni, the pair said in a statement.
The two companies said in a joint statement on Wednesday that London's Panel on Takeovers and Mergers had granted SABMiller's request to push back the deadline to 5 pm (12.00 midnight ET) on Wednesday, November 11.
SABMiller said in a statement on Wednesday that it had asked London's Panel on Takeovers and Mergers to push back the deadline to 5 pm on Wednesday, November 4.
After days of wrangling over price, the two firms said they had now agreed the terms in principle, with the price representing a premium of around 50 percent to SABMiller's closing price on September 14.
The maker of Budweiser and Stella Artois said it would offer 43.50 pounds per share in cash to most SABMiller shareholders, an improvement from the 42.15 pounds it put forward last week.
An offer in the range of 43 to 44 pounds per share is a possibility, the source said, adding that AB InBev was unlikely to go as high as 45 to 46 pounds, as some analysts have suggested.
The Brazilian boss of Belgium-based AB InBev expressed frustration at the board of its UK rival, continuing a strategy begun on Wednesday, which one analyst called going "hostile lite", referring to an acquirer putting its terms direct to a target's shareholders.
AB InBev said on Wednesday that the revised proposal should be highly attractive to SABMiller shareholders and provided an extremely compelling opportunity for them.
Beer-consumers have filed a proposed class-action lawsuit accusing Anheuser-Busch InBev of watering down so-called "King of Beers" Budweiser and other alcoholic beverages to boost profits, attorneys for the plaintiffs said on Tuesday.
