BRUSSELS – Anheuser-Busch InBev, the world's largest brewer, raised its forecast for savings from its near $100 billion takeover of SABMiller after weaker than expected earnings as beer sales suffered in Brazil.
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The company, now more than double the size of nearest rival Heineken, increased its cost savings and synergy target to $2.8 billion from $2.45 billion. This includes $1.05 billion that SABMiller had previously announced before the merger.
The brewer of Budweiser, Stella Artois and Corona, which makes more than a quarter of the world's beer, said it had already captured $829 million of savings. The balance of about $2 billion would come in the next three to four years.
(Reporting by Philip Blenkinsop; editing by Robert-Jan Bartunek)