"The ACCC considers that the proposed acquisition is unlikely to result in higher beer prices for consumers," Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims said in a statement.
The deal would not hurt competition in Australia because AB Inbev sold its beers in Australia only via distributors, "has only a limited direct company presence in Australia and does not brew beer here," the ACCC said.
The green light from Australia removes another potential antitrust obstacle to the world's No. 1 beer company's deal to buy its nearest rival, one of the biggest corporate takeovers on record. AB Inbev has said it expects to complete the purchase by the end of 2016, but still has to secure antitrust clearance in Europe, where both it and its target are headquartered.