Molson Coors expected to buy rest of Chicago's MillerCoors: report

Molson Coors Brewing is negotiating to buy the part of Chicago’s MillerCoors that it doesn’t already own, according to published reports.

MillerCoors is a joint venture of SABMiller and Denver-based Molson Coors. SABMiller owns 52 percent of MillerCoors.

The Financial Times first reported the talks between Molson Coors and SABMiller, calling the sale of the MillerCoors stake “key” to Anheuser-Busch InBev winning regulatory approval for its $104 billion purchase of SABMiller.

The two brewing giants on Wednesday received a deadline extension for submitting a formal purchase offer to British regulators.

In addition to Budweiser, AB InBev owns Stella Artois and Beck’s. SABMiller makes Miller Genuine Draft, along with other names like Peroni and Milwaukee’s Best.

The huge merger will expand AB InBev’s reach into the African and Australian markets.