AB InBev’s Agreement with Ambev to Exchange Certain Ambev and SABMiller Businesses in Latin America

On May 13, 2016, Anheuser‑Busch InBev (“AB InBev”) announced an agreement with Ambev S.A. (“Ambev”) pursuant to which AB InBev has agreed to transfer SABMiller plc’s (“SABMiller”) Panamanian business to Ambev, in exchange for which Ambev has agreed to transfer to AB InBev its business in Colombia, Peru and Ecuador. Cravath is representing AB InBev in connection with this transaction.

The transaction is conditional on the successful closing of the proposed business combination between AB InBev and SABMiller as announced on November 11, 2015, in addition to other customary closing conditions.

The Cravath team is led by partner Robert I. Townsend III and includes associates Mark Mushkin and Derrick M. Davis on M&A matters; partners Lauren Angelilli and Christopher K. Fargo and associate Sara L. Lykken on tax matters; and partner David J. Kappos and associate Jason M. Sandler on intellectual property matters. Ashley May is also working on tax matters.