InBev confident on Anheuser-Busch deal as share issue postponed

0 Comments | AFP, October, 2008

BRUSSELS (AFP) — Brewing giant InBev said Tuesday plans to close its takeover of Anheuser-Busch by the year end are still on track as stock market volatility forced it to put off a capital hike to help pay for the deal.

"We are moving forward confidently and expect to complete the combination of these two great companies by the end of the year to create the world's leading brewer," said chief executive Carlos Brito in a statement.

However, the company said in the statement that it was postponing a planned sale of 9.8 billion dollars (7.2 billion euros) worth of new stock to existing shareholders "as a consequence of unprecedented volatility in the global capital markets."

The company, which did not say when the rights issue would go ahead, also said it had...