South African Breweries (SAB) confirmed on Tuesday that South Africa will be the first country outside Europe to bring to market Dutch beer Grolsch Premier Lager following the acquisition of Royal Grolsch by SABMiller four months ago.
The JSE was lower at midday on Tuesday, playing catch-up after the public holiday on Monday when there was weakness in global equity markets. By 12.04pm, the JSE's all-share index had pulled back 2,38%. The gold mining index fell 3,31%, resources lost 3,21% and the platinum mining index gave up 3,16%.
Global brewing giant SABMiller (SAB) and Koninklijke Grolsch NV said on Tuesday that they will submit a request for approval of the offer memorandum in respect of the SABMiller offer for Grolsch to the Dutch authority for the financial markets this week.
The JSE was weaker at midday on Monday, erasing earlier gains following a similar trend in European markets on early indications that Wall Street was likely to open lower. At noon, the all-share index was down 0,69%. Resources fell 1,75% while the gold- and platinum-mining indices gave up 0,46% and 1,81% respectively.