InBev closes Anheuser-Busch deal

By Martinne Geller

NEW YORK (Reuters) - InBev NV INTB.BR closed its purchase of U.S. brewer Anheuser-Busch Cos Inc BUD.N to create the world's largest brewer in the biggest cash acquisition in history, despite a global financial crisis that has stymied other deals.

As of Tuesday, the maker of Stella Artois and Beck's will be known as Anheuser-Busch InBev. Its shares will trade on the Euronext Brussels stock exchange under a new symbol, ABI, starting November 20.

Shares of Anheuser-Busch, the maker of Budweiser and Michelob, have ceased trading on the New York Stock Exchange pending their acquisition by InBev for $70 per share, or a total of $52 billion (34 billion pounds).

The combined company will brew about a quarter of the world's beer and generate about $36 billion in annual sales, helping regain its position as the world's top brewer. InBev lost the title last year to London-listed SABMiller (SAB.L).

Analysts had been concerned about the deal's fate after a global credit crunch made loans harder to come by and caused a major realignment of the worldwide banking industry.

"Given the environment, I think they've got to be pretty pleased they got this done," said Edward Jones analyst Jack Russo, who had expected the takeover to be delayed like Altria Group Inc's (MO.N) proposed purchase of UST Inc UST.N.

Now InBev can "move on and start the integration process, which given ... Mr. (Carlos) Brito and his history, probably started this morning. He's all business."

Russo guessed the credit crisis may have resulted in higher financing and transaction costs for InBev, but the cost cutting potential was so great the deal still made sense.