SABMiller-AB Inbev deal wins key support in SA
CAPE TOWN, June 1 (ANA) – SABMiller said on Wednesday that the Competition Commission of South Africa had recommended to the Competition Tribunal that its proposed combination with Anheuser-Busch InBev (AB InBev) be approved with conditions.
The South African brewing giant said in a statement that the next and final stage of the process was for the Competition Tribunal to consider the deal and make its clearance decision.
The statement added: “Following on from AB InBev’s receipt of exchange control approval from the South African Reserve Bank and the European Commission’s approval of the recommended combination with SABMiller plc last week, AB InBev believes it is well on track to secure the necessary regulatory approvals that will allow for closing in the second half of 2016.”
– African News Agency (ANA)
Disclaimer: This story is pulled directly from the African News Agency wire, and has not been edited by Mail & Guardian staff. The M&G does not accept responsibility for errors in any statement, quote or extract that may be contained therein.