InBev closes Bud deal, becomes No.1 brewer

Belgium's InBev NV completed its acquisition of U.S. brewer Anheuser-Busch Cos Inc, making it the world's largest brewer and sending its shares up 2.8 percent.

As of Tuesday, the maker of Stella Artois and Beck's will be known as Anheuser-Busch InBev. Its shares will trade on the Euronext Brussels stock exchange under a new symbol, ABI, starting November 20.

Shares of Anheuser-Busch, maker of Budweiser and Michelob, have ceased trading on the New York Stock Exchange pending their acquisition by InBev for $70 per share, or a total of $52 billion.

The St. Louis-based brewer, which accepted a sweetened takeover offer from InBev in July, will retain its current headquarters in St. Louis, which will become the North American headquarters for the combined company.

InBev financed its takeover with a $45 billion syndicated loan whose future was called into question once the global financial crisis erupted in September, effectively slamming the brakes on credit.

The deal's closing comes a day after InBev said it had reached a deal with U.S. antitrust regulators to sell the Labatt USA business and associated licenses.

InBev shares were up 2.8 percent at 29.7 euros in Brussels.

(Published by Reuters - November 18, 2008)