European Federation of Food, Agriculture and Tourism Trade Unions
Together for decent work and fair pay from farm to fork

As AB InBEV confirms SABMiller acquisition EFFAT braces for potential job losses

13/10/2015
 
On 13 October AB InBev and SABMiller agreed in principle on the acquisition. The SABMiller board declared it is prepared to “unanimously” accept a £44 in cash per share from the Budweiser and Stella Artois producer. The agreement would give AB InBev a dominant presence in nearly every major market and an estimated 28.4% market share world-wide, including Belgium.
 
The agreement - the biggest beer merger ever and one of the top five acquisitions in history - has yet to be approved by regulators and submitted to SABMiller shareholders. AB InBev and SABMiller agreed to seek a two-week extension to Wednesday’s deadline for a formal offer. AB InBev have time until 28 October to come up with a formal offer if UK regulators grant an extension to the takeover talks. In that time, the two sides will work on the conditions of the takeover as well as the financial aspects.
 
SABMiller employs 69,000 people in 83 countries. AB InBev has 155,000 workers in 25 countries. EFFAT will make use of any available means, including the EWCs of both groups, to receive updated information and ensure proper consultation throughout the acquisition procedure.
 
EFFAT is ready to work hand in hand with its affiliated unions in order to avert any detrimental effects on employment and working conditions.
 

EFFAT is the European Federation of Food, Agriculture and Tourism Trade Unions. As a European Trade Union Federation representing 120 national trade unions from 35 European countries, EFFAT defends the interests of more than 22 million workers towards the European Institutions, European employers’ associations and transnational companies. EFFAT is a member of the ETUC and the European regional organisation of the IUF.