US-based beer brewing firm Craft Brew Alliance (CBA) has announced that its shareholders have formally approved the proposed acquisition of the company by Belgian firm Anheuser-Busch InBev (AB).

According to Craft Brew Alliance, over 98% of the shares, voted by proxy and at the special meeting, supported the deal. It includes a majority of outstanding shares held by investors other than AB or related interests.

Last November, AB had agreed to acquire the remaining CBA stake for $16.50 per share, in cash.

Craft Brew Alliance chairman David Lord said: “On behalf of CBA’s Board of Directors and executive team, I would like to thank our shareholders for their overwhelming support of this proposed combination with A-B.

“In addition to delivering value for our shareholders, today’s outcome reflects the tremendous success that CBA and A-B have achieved in their decades-long partnership.

“By joining with A-B, we look forward to accelerating the potential of CBA’s distinctive portfolio, led by Kona Brewing Company as a truly distinctive lifestyle brand, while continuing to invest in our local communities.”

CBA states that it will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the US Securities and Exchange Commission.

Headquartered in Portland, Oregon, CBA operates breweries and brewpubs across the US since 2008.

Presently, CBA beers are available in all 50 US states and 30 different countries across the globe.