Business

Molson Coors in talks to buy SABMiller’s stake

Molson Coors (NYSE:TAP) reportedly is in advanced negotiations with SABMiller to buy a majority stake in their USA joint venture MillerCoors.

The Financial Times first reported the talks between Molson Coors and SABMiller, calling the sale of the MillerCoors stake “key” to Anheuser-Busch InBev winning regulatory approval for its $104 billion purchase of SABMiller.

The talks come ahead of the Wednesday deadline for AB InBev to make a formal takeover bid for SABMiller or walk away from the deal.

No agreement has been reached and a deal could still fall apart, the people familiar with the talks said.

Molson Coors Brewing Co reported a 13 percent drop in net sales as a strong dollar reduced the value of its sales. Shares in AB InBev were down 0.4% in morning trade Tuesday, while those in SABMiller were up 0.2%.

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An Anheuser Busch InBev NV branded Corona beer along with SABMiller Plc branded beers

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