Categories: NewsWorld

AB InBev and SAB Miller one step closer to merger

The South African Reserve Bank (SARB) has granted exchange control approval for the proposed merger of Anheuser-Busch (AB) InBev and…

AB InBev is currently seeking regulatory approval around the world for the US$108 billion merger between the Belgium-based brewer and SABMiller to create the world’s largest brewer.

South Africa was one of the countries AB InBev needed regulatory approval from.

“Approval from the SARB represents an important milestone in the process of securing regulatory clearance for the transaction in South Africa,” AB InBev said in a statement.

AB InBev, based in Leuven, Belgium, agreed to create a US$69 million fund to support the South African beer sector and protect jobs in the country. It is also selling stakes in joint ventures SAB holds in the US and China. The company has also agreed to retain a secondary listing on the Johannesburg Stock Exchange and locate its Africa office to the city.

In Europe, the company won support from the European Union after agreeing to offload SABMiller brands including Peroni and Grolsch, Bloomberg reported.

“Following on from the European Commission’s approval of its recommended combination with SABMiller, 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,” the statement said.

Recent Posts

Cattle branding: how to get it right every time

If branding is carried out poorly, it can lead to infection, muscle damage, and brands that are difficult to read.…

3 hours ago

Learning from Israel’s water woes

During a recent tour to farms and the AgriTech Israel exhibition in Israel, it was revealed that despite the large…

1 day ago

Using insects as animal feed

Animal feed produced from insects can deliver more tons per hectare than feed from traditional crops like soya, says an…

2 days ago

Farmers urged to participate in the Producer/Farmer Register

Minister of the Department of Agriculture, Forestry and Fisheries (DAFF), Senzeni Zokwana, recently announced the establishment of the Producer/Farmer Register…

4 days ago

Understand the power and pitfalls of trust

Trust is a potent force for good. Break it, and you and your business could suffer severe consequences.

4 days ago

DAFF’s 1 000 overpaid employees

The high cost of wages for workers in the public service is one of the major uncomfortable truths that Finance…

5 days ago

This website uses cookies.