Davis Polk advised the administrative agent in connection with closing a $3 billion term loan facility provided to Molson Coors Brewing Company to finance its proposed acquisition of SABMiller plc’s majority interest in MillerCoors LLC (a joint venture in the U.S. and Puerto Rico between Molson Coors and SABMiller plc). The acquisition by Molson Coors of the joint venture was conditioned on the closing of the acquisition of the entire issued and to be issued share capital of SABMiller plc by Anheuser-Busch InBev SA/NV. MillerCoors will become a wholly owned subsidiary of Molson Coors.

Headquartered in Colorado, Molson Coors is one of the world’s largest brewers with about 9,100 employees worldwide. Its largest markets are the United States, Canada and Europe. The MillerCoors LLC joint venture, with about 8,300 employees, owns brands including Miller Lite, Coors Light and Blue Moon and accounts for approximately 25% of the U.S. beer market. The combination makes Molson Coors the world’s third-largest beer brewer by enterprise value.

The Davis Polk financing team includes partner Jason Kyrwood, associates Ilona C. Potiha and Julian Azran. All members of the Davis Polk team are based in the New York office.

Copy link to share post