It’s official—Anheuser-Busch InBev (AB InBev) closed the deal on a $100 billion acquisition of SABMiller.
The two global brewing giants began the process nearly a year ago, and have been clearing antitrust hurdles through divesting various brands in each of the companies’ portfolio. Most notably in the United States was SABMiller’s sale of its 58% stake in MillerCoors to the joint venture’s minority owner Molson Coors for $12 billion.
According to Bloomberg, after the acquisition the company will remain known as AB InBev. The Belgium-based company plans to cut 3% of the merged company’s global workforce.
The Brewers Association, an organization promoting independent craft breweries, voiced concerns throughout the last year that the merger will flatten the market and harm the burgeoning craft beer scene. U.S. Senators Amy Klobuchar (D-Minnesota) and Mike Lee (R-Utah) led an antitrust subcommittee hearing on December 8, 2016, to look into the effects of the merger.
Despite opposition arguments, AB InBev was able to navigate antitrust regulations and close the deal on Monday evening.