Global alcoholic beverage manufacturer Anheuser-Busch InBev (AB InBev) has completed sale of its entire indirect stake in the Distell Group to the Public Investment Corporation (SOC), acting on behalf of the Government Employees Pension Fund in South Africa.

The sale was made to satisfy conditions set by the South African Competition Tribunal to execute the business deal between AB InBev and SABMiller.

Last year, AB InBev entered into a binding agreement with the Public Investment Corporation (SOC) to sell its stake of 58,674,000 ordinary shares, which is equivalent to 26.4% of Distell’s issued share capital.

When the agreement was made between AB InBev and SOC, Remgro and Capevin Holdings revealed that they would not exercise their pre-emptive rights triggered by the sale. Remgro and Capevin Holdings held the pre-emptive rights in relation to the Distell Shareholding.

"The sale was made to satisfy conditions set by the South African Competition Tribunal to execute the business deal between AB InBev and SABMiller."

For this transaction, the Standard Bank and Deutsche Bank have served as joint financial advisers, while Webber Wentzel acted as the legal counsel to AB InBev.

Deutsche Securities (SA) Proprietary served as the JSE sponsor to AB InBev.

With a workforce of nearly 200,000 employees located across 50 countries, AB InBev offers a portfolio of more than 500 beer brands, which includes Budweiser, Corona, and Stella Artois.

The company claims that it uses natural ingredients for producing its alcoholic beverage products.