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		</div><p>Budweiser brewer Anheuser-Busch InBev has cleared another major hurdle in its pursuit of SABMiller after winning regulatory backing in China.</p>
<p>The takeover approach was given the green light by China&#8217;s Ministry of Commerce after the Belgian brewer agreed to sell SABMiller&#8217;s 49% stake in China Resources Snow Breweries to China Resources Beer.</p>
<p>It means the firm&#8217;s £79bn swoop has now been approved in 23 jurisdictions worldwide, satisfying all pre-conditions of the deal.</p>
<p>The company said it is still aiming to complete the mega-merger to create the world&#8217;s biggest drinks firm by the end of this year.</p>
<p>However, the tie-up hangs on a knife edge as SABMiller&#8217;s investors mull over an increased offer made on Tuesday triggered by the collapse in the value of the pound after the Brexit vote.</p>
<p>Shareholders in SABMiller will now receive £45 a share, up from its earlier offer of £44, valuing SABMiller at about £79bn.</p>
<p>The pound has plunged in value versus the US dollar since the<br />
June 23 vote, falling more than 10% to $1.31.</p>
<p>Concerns about the deal have been raised by investors, such as Elliott Management, Davidson Kempner Capital Management and Aberdeen Asset Management.</p>
<p>However, other shareholders, including New York-based investment management firm Twin Capital Management, want the takeover to go through.</p>
<p>The announcement comes as AB InBev reported a 4.3% rise in operating profits for the second quarter to $4.01bn following strong sales of Budweiser, Corona and Stella Artois.</p>
<p>It said the three brands saw revenue growth of 8.4% over the period, with Corona alone notching up a 13% rise compared to the second quarter of last year.</p>
<p>AB InBev, the world&#8217;s largest brewer, has already moved to sell SABMiller&#8217;s Peroni, Grolsch and Meantime brands to Japanese firm Asahi. It has also signalled its intent to sell SABMiller&#8217;s businesses in central and eastern Europe.</p>
<p>SAB employs around 69,000 people in more than 80 countries and has global annual sales of more than $26bn.</p>
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