There are six stages to the selection process:
1. CV-screening
Good academics results and proof of initiative wrt extracurricular activities are essential here.
2. Online test on abstract reasoning skills & cultural fit
As the description indicates this stage involves a lot of reasoning and personality tests. You first have to fill in some motivational boxes, e.g. why you want to join AB Inbev. Then there is a timed part (90 minutes) in which your personality is mapped and IQ/intelligence is tested by means of multiple choice questions.
3. Video interview
If all this goes well you are invited for a video interview (skype was used) and you're asked typical interview questions (e.g. what are your strengths, weaknesses, disappointments, motivation for life changing decisions etc.). From feedback I derived that it is important to be quick on your feet, and be prepared. These types of questions are pretty standard so look them up. It is also quite essential that you know the company itself, so browse the website thoroughly.
4. First assessment day
All over Europe assessment days (10 in total) are held where you are expected to prepare a business case in 20 minutes and then discuss it in group, coming to a consensus and a final decision. The key to being successful here is being fast, you don't get time to read everything so be selective. I was presented with a business case in which you had to pick a project to use a budget for. There wasn't a lot of creativity involved, the main distinguishing features were taking charge ("leading the meeting, keeping time") and being analytical, keep figures in your head. Sadly this is where the application process ended for me. After this stage only 40 applicants remained.
5. AB Inbev day
Another assessment day where approximately half/ a third is eliminated.
6. Panel interview
A panel interview at AB Inbev HQ with high ranking managers among which the CEO, Carlos Brito.
Overall perception:
The selection is hard for "normal" master's degree (soon to be) graduates as myself. Most of the people present had internship/post master experience. However AB Inbev comes across as very professional and interesting to work for. The program is extremely selective, only 10-20 people are selected from a pool of a couple of thousand applicants, coming from all over Europe.