AB InBev takeover of SABMiller gets the nod | Fin24
 
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AB InBev takeover of SABMiller gets the nod

May 31 2016 17:38
John Bowker

Johannesburg - The Competition Commission recommended Anheuser-Busch InBev NV’s $106bn takeover of fellow brewer SABMiller with conditions that include the sale of a stake in local wine, cider and spirits producer Distell Group.

AB InBev must sell SABMiller’s 26% stake in Distell within three years of closing the deal, the Pretoria-based antitrust regulator said in an e-mailed statement on Tuesday.

Retaining the stake could hurt competition and lead to “the exchange of commercially sensitive information between AB InBev and Distell,” it said. Other conditions include protecting jobs and setting up a R1bn ($64m) fund to support local farmers.

The Competition Commission missed at least four deadlines to complete its probe into the takeover of SABMiller, which traces its roots to Johannesburg. The matter will now pass to the Competition Tribunal for a final decision.

AB InBev is seeking regulatory approval around the world to combine with SABMiller, creating the world’s largest brewer. The maker of Budweiser and Stella Artois won support from the European Union last week after agreeing to offload SABMiller brands including Peroni and Grolsch.

ab inbev  |  sabmiller  |  takeover
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