AB InBev has reached agreement on the latest stage in its acquisition of SABMiller.

The group has entered into an agreement with Ambev S.A. to transfer SABMiller’s Panamanian business, in exchange for which Ambev has agreed to transfer to AB InBev its business in Colombia, Peru and Ecuador.

AB InBev said this would allow it to focus on countries where SABMiller is well established, and allow Ambev to initiate operations in Panama through the established SABMiller business and further expand its businesses in Central America.

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