Molson Coors Brewing Co. is nearing a deal that would allow the company to purchase the rest of the company’s equity from its MillerCoors LLC U.S. joint venture. The buyout would move SABMiller PLC one step closer to its blockbuster sale to Anheuser-Busch InBev NV.
As part of the deal, the U.K.’s SABMiller would sell its 58% of the venture to Denver’s Molson Coors for more than $10 billion.
MolsonCoors is attempting to acquire the remaining stake in the company ahead of the $100 billion-plus merger of SabMiller and Ab InBev which was announced in October.
The massive $100 billion agreement is expected to be announced Wednesday along with a formal pact between SABMiller and AB InBev.
The MillerCoors takeover would be conditioned on the larger beer deal closing, sources close to the buyout told Fox Business.
The joint venture includes nearly 8,000 employees. The company owns Miller Lite, Coors Light and Blue Moon, along with some smaller labels like Hamm’s.
SABMiller and Molson Coors formed the joint venture in 2008.