LONDON — Anheuser-Busch InBev said Wednesday it had completed an agreement to acquire its closest rival, SABMiller, for nearly $106 billion, creating what it called the first “truly global brewer.”

The deal, reached after months of negotiations, would create a beer industry giant with annual revenue of about $64 billion and would give Anheuser-Busch InBev, already the world’s largest brewer, a substantial operation in Africa, where it has little presence, and greater dominance in Latin America.

The question now is how much regulators will challenge the deal, which would create a company responsible for nearly 30 percent of all beer sales worldwide. The combined company’s brands would include Anheuser-Busch InBev’s Budweiser, Corona Extra and Stella Artois and SABMiller’s Grolsch and Peroni.

In the effort to appease regulators, SABMiller said Wednesday that it would sell its 58 percent stake in MillerCoors in the United States to its joint venture partner Molson Coors Brewing Co. for about $12 billion.

That deal includes the global rights to the Miller brand and would make Molson Coors the second-largest brewer in the United States, behind Anheuser-Busch InBev.

Analysts have raised concerns that the companies might be forced to make a similar concession to regulators in China, where SABMiller holds a 49 percent stake in a joint venture that owns Snow, China’s best-selling beer brand.

Anheuser-Busch InBev is the third-largest brewer in the Chinese beer market behind CR Snow, SABMiller’s joint venture, and Tsingtao Brewery, but would become the country’s largest brewer by market share if it was allowed to keep the stake.

China Resources Enterprise, SABMiller’s joint venture partner, would be a likely buyer if they were forced to sell, analysts said.

On Wednesday, Carlos Brito, the Anheuser-Busch chief executive, said the brewer would be “prompt, proactive and decisive” in addressing concerns by regulators.

“In markets, such as China, South Africa and other jurisdictions, we also intend to work closely with SABMiller to address any regulatory requirements,” he said in a conference call with journalists.

Brito didn’t address how Anheuser-Busch InBev planned to tackle the overlap in China or the combined company’s soft drink bottling operations for its rivals Coca-Cola and PepsiCo.

SABMiller is an important bottler for Coca-Cola in Africa, while Anheuser-Busch InBev is an important bottler for PepsiCo in Latin America.

Anheuser-Busch InBev has argued that it thinks the combined company’s geographic footprint is “largely complementary.”

As part of the transaction, Anheuser-Busch InBev would pay a $3 billion fee to SABMiller if regulators did not approve the merger, the companies said.

Selling SABMiller’s stake in MillerCoors could eliminate a major regulatory hurdle: Many analysts had predicted that the U.S. Justice Department would seek the sale or breakup of the joint venture.

MillerCoors was formed by SABMiller and Molson Coors in 2008 to combine their United States operations. That partnership owns several major brands in the United States, including Miller Lite, Coors Light and Blue Moon.

As part of the deal to sell its stake, SABMiller would give up its rights to the Miller brand worldwide and MillerCoors would retain the rights to sell brands it currently holds in its portfolio in the United States, including Peroni and Pilsner Urquell. That sale depends on the closing of the Anheuser-Busch transaction.

“In consolidating ownership of MillerCoors, we will strengthen our presence in the highly attractive U.S. beer market, further improve our global scale and agility, benefit from significantly enhanced cash flows, and capture substantial operational synergies,” Mark Hunter, the Molson Coors president and chief executive, said in a news release

Under the terms of the joint venture, Molson Coors had the right to make a first offer if SABMiller chose to sell and could match the last offer if a competing bid emerged.

Molson Coors said it would expect to realize cost savings of at least $200 million a year by the fourth year after the transaction.

Despite the regulatory hurdles, analysts are confident the deal will ultimately pass muster. The transaction is expected to be completed in the second half of next year.

“With little geographic overlap between the two companies, it is of little surprise the deal has been agreed, and the deal will also have limited antitrust issues,” said Jeremy Cunnington, an analyst with the research firm Euromonitor International.

Euromonitor estimated that a combined Anheuser-Busch InBev-SABMiller could account for 29 percent of global beer sales, after selling some assets to win regulatory approval. It would also be more than three times as large in terms of sales as its next closest competitor, the Dutch brewer Heineken, according to Euromonitor.