July 19, 2016    1 minute read

TCI Takes A Stake In SABMiller

   July 19, 2016    1 minute read

TCI Takes A Stake In SABMiller

The Children’s Investment Fund Management (TCI) has taken a stake in SABMiller, which could lead to some last-minute improvements in the SABMiller-AB InBev deal.

Editor’s Remarks: AB InBev, the world’s largest beer producer, has a market share of 25% worldwide and has made an offer to take over competitor SABMiller for some £77bn. The move is to be discussed in SABMiller’s annual shareholder’s meeting taking place in London this week and, if successful, it will be the largest in British history. TCI acquired a participation of just under 1% in SABMiller, and it is the second activist to invest in the beer-maker after hedge fund Elliott Advisors which now owns 1.5%. The interest shown by the two activists is likely to push AB Inbev to improve its takeover offer of £44 per share. Before setting its eyes on SABMiller, AB InBev made an offer to Heineken, which the Dutch company rebuffed.

What to watch: AB InBev, SABMiller, The Children’s Investment, Elliott Advisors

Get articles like this straight to your inbox each morning with our Breakfast Briefing. Sign up by clicking here!

Log in with your details

or    

Forgot your details?

Create Account

Send this to a friend