U.S. Department of Justice Approves Molson Coors as Acquirer of SABMiller’s Interest in MillerCoors
Molson Coors to Become World’s Third Largest Brewer
Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) (“Molson Coors” or “the Company”) today announced that the U.S. Department of
Justice has reached a final agreement with AB InBev and SABMiller, which will allow Molson Coors to acquire SABMiller’s 58 percent
stake in MillerCoors (“MillerCoors”), as well as the Miller® brand portfolio outside of the U.S.
The proposed AB InBev-SABMiller merger is still subject to clearance from the Chinese regulatory authorities, as well as other
non-regulatory conditions, which are required in order for the transaction to close.
Mark Hunter, president and chief executive officer of Molson Coors stated, “This represents a critical milestone on our journey
to take full control of MillerCoors upon the closure of the AB InBev-SABMiller merger. The acquisition will allow us to simplify
decision-making and reduce the complexities of dual ownership; it will allow us to become a more integrated and efficient brewer;
and it will allow us to become a more effective competitor as a single owner, promoting consumer choice in an increasingly diverse
and fast-growing brewing industry.”
Hunter continued, “We are still awaiting additional closing conditions for the AB InBev-SABMiller merger to be completed, but we
are now well on our way to closing our transaction, which we expect will be completed before the end of the year.”
About Molson Coors
Molson Coors Brewing Company is a leading global brewer delivering extraordinary brands that delight the world's beer drinkers.
It brews, markets and sells a portfolio of leading brands such as Coors Light, Molson Canadian, Carling, Staropramen and Blue Moon
across The Americas, Europe and Asia. It operates in Canada through Molson Coors Canada; in the US through MillerCoors; across
Europe through Molson Coors Europe; and outside these core markets through Molson Coors International. The Company is the only
alcohol producer currently recognized for world class sustainability performance through the Dow Jones Sustainability Index. It was
listed on the World Index for the past four years and named global Beverage Sector Leader in 2012 and 2013. Molson Coors is
constantly looking for ways to improve its Beer Print. For more information on Molson Coors Brewing Company visit the company's
website, http://molsoncoors.com or http://ourbeerprint.com
Forward Looking Statement
This press release includes estimates or projections that constitute “forward-looking statements” within the meaning of the
U.S. federal securities laws. Generally, the words “believe,” "expect,” "intend,” "anticipate,” “project,” “will,” and
similar expressions identify forward-looking statements, which generally are not historic in nature. Although the Company
believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that
these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the
Company’s historical experience, and present projections and expectations are disclosed in the Company’s filings with the
Securities and Exchange Commission (“SEC”). These factors include, among others, our ability to successfully close, finance
and integrate the acquisition of MillerCoors; our ability to achieve expected tax benefits, accretion and cost synergies; our
ability to obtain necessary regulatory approvals for the acquisition of MillerCoors; impact of increased competition resulting from
further consolidation of brewers, competitive pricing and product pressures; health of the beer industry and our brands in our
markets; economic conditions in our markets; additional impairment charges; our ability to maintain manufacturer/distribution
agreements; changes in our supply chain system; availability or increase in the cost of packaging materials; success of our joint
ventures; risks relating to operations in developing and emerging markets; changes in legal and regulatory requirements, including
the regulation of distribution systems; fluctuations in foreign currency exchange rates; increase in the cost of commodities used
in the business; the impact of climate change and the availability and quality of water; loss or closure of a major brewery or
other key facility; our ability to implement our strategic initiatives, including executing and realizing cost savings; our ability
to successfully integrate newly acquired businesses; pension plan costs; failure to comply with debt covenants or deterioration in
our credit rating; our ability to maintain good labor relations; our ability to maintain brand image, reputation and product
quality; lack of full-control over the operations of MillerCoors and other risks discussed in our filings with the SEC, including
our most recent Annual Report on Form 10-K, which is incorporated by reference therein. All forward-looking statements in
this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should
not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake
to update forward-looking statements, whether as a result of new information, future events or otherwise.
Molson Coors
Investor Relations:
Dave Dunnewald, 303-927-2334
or
Media:
Colin Wheeler, 303-927-2443
View source version on businesswire.com: http://www.businesswire.com/news/home/20160720006314/en/