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AB InBev to sell stake in Distell to South Africa's state pension fund

Reuters - UK Focus

(Corrects market value conversion to $645 mln, paragraph 2)

JOHANNESBURG, Dec (Shanghai: 600875.SS - news) 15 (Reuters) - Anheuser-Busch InBev will sell its entire interest in Distell Group Ltd to South Africa's state-owned pension fund Public Investment Corp as part of the conditions for its acquisition of brewer SABMiller (Other OTC: SBMRY - news) , the company said on Thursday.

South Africa's Competition Commission made one of the conditions for Anheuser-Busch InBev's acquisition of brewer SABMiller for more than $100 billion that SABMiller must sell its 26.4 percent Distell holding, which is worth roughly 9 billion rand ($645 million) based on its current market value.

($1 = 13.9629 rand) (Reporting by Nqobile Dludla; Editing by Gopakumar Warrier)