Shareholders of Anheuser-Busch InBev (AB InBev) and SAB Miller have given their approval to the $100bn plus merger deal.

This approval will enable the merger to be completed by 10 October of this year.

AB InBev also announced that it will retain the same name after the completion of this deal, while SAB MIller will drop the name.

The deal strengthens AB InBev's position in the brewing industry.

It is estimated that the combined company will produce one-third of global beer production.

"We are pleased that our shareholders’ vote brings us one step closer to combining our companies."

AB InBev will also be able to fortify its position across the African continent and China, which are dominated by SABMiller.

AB InBev CEO Carlos Brito said: “We are pleased that our shareholders’ vote brings us one step closer to combining our companies, teams, strong heritage and passion for brewing. We are committed to driving long-term growth and creating value for all our stakeholders.”

Formed in 2004 by the combination of AmBev and Interbrew, AB InBev has acquired four brewers since 2008, includeing Anheuser-Busch Cos, Grupo Modelo, and Oriental Brewing, reported The Wall Street Journal.

To secure approval from regulatory authorities for the deal to merge with SAB Miller, AB InBev sold many of its brands,  including Miller Lite, Peroni and Snow.