The second largest brewer in the world by volume has hired ten banks in an effort to assist its proposed takeover of Foster's Group.
SABMiller is aiming to generate $12.5 billion in loans for its hostile bid for the company - which employs around 2,300 people and sells its products in 45 countries across the globe - an individual familiar with the matter told Bloomberg.
Institutes involved in the deal - which is set to be the most sizeable financing by a European firm since October 2010 when Sanofi-Aventis was handed $15 billion while trying to purchase Genzyme Corp - include Royal Bank of Scotland Group, Morgan Stanley and JPMorgan Chase, with these lenders each expected to underwrite $1.25 billion.
Other banks involved in the agreement include Barclays Capital, Bank of America Merrill Lynch, Citigroup, Banco Bilbao Vizcaya Argentaria SA, Banco Santander SA, Mizuho Financial Group and Bank of Tokyo-Mitsubishi.
By Gary Cooper
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