InBev was a brewing company that resulted from the merger between Belgium-based company Interbrew and Brazilian brewer AmBev which took place in 2004. It existed independently until the acquisition of Anheuser-Busch in 2008, that formed Anheuser-Busch InBev (abbreviated AB InBev). InBev had operations in over 30 countries and sales in over 130 countries. In 2006, it had a market capitalization of €30.6 billion and net profit of €3.2 billion on sales of €13.3 billion. On July 13, 2008, InBev agreed to buy Anheuser-Busch for a total value of $52 billion, which would create a new company to be named Anheuser-Busch InBev. It was reported that Anheuser will get two seats on the combined board. To obtain antitrust approval in the United States, InBev agreed to divest itself of the company that imports Labatts beer, another InBev brand, into the United States; this transaction was completed on March 13, 2009. The all-cash agreement, for $70 per share, or almost $52 billion, would create the worlds largest brewer, uniting the maker of Budweiser and Michelob with the producer of Stella Artois, Bass and Brahma. The two companies would have yearly sales of more than $36.4 billion, surpassing the current number one brewer, London-based SABMiller.