AB InBev's takeover of SABMiller officially approved

Stella Artois-maker AB InBev’s £79 billion takeover of rival SABMiller cleared its final hurdle on Wednesday after the majority of shareholders from both brewing giants approved the merger plans.

The deal, dubbed “megabrew”, will create a powerhouse, producing almost a third of the world’s beer.

The firms are behind brands including Pilsner Urquell and Corona.

The vote ends a year-long pursuit that saw the brewers negotiate at length over price before spending months hammering out brand sales to get the acquisition past the regulators.

A deal was agreed last year but AB InBev was forced to raise its offer after sterling plummeted in the wake of the vote for Brexit.