AB InBev-SABMiller deal wins antitrust nod

Anheuser-Busch InBev NV won US antitrust approval for its takeover of SABMiller Plc, after the maker of Budweiser agreed to give up ownership of the Miller brand and open the door to greater competition from craft beers.

AB InBev will sell SABMiller's stake in MillerCoors LLC, separating the two brands, and refrain from practices that restrict distribution of smaller rival brews, thus protecting the ability of craft and import beers to compete, the Justice Department said in a statement on Wednesday. The settlement will prevent any increase in concentration in the US beer industry, according to the statement.

"The two largest US brewers - ABI and MillerCoors - will now remain independent competitors after the deal," Sonia Pfaffenroth, a deputy assistant attorney general at the antitrust division, said in the statement.