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Johannesburg - The Competition Commission probably won’t meet a new deadline to complete an investigation into Anheuser-Busch InBev NV’s takeover of SABMiller [JSE:SAB] after the merging companies granted a five business-day extension to April 12.
“It’s unlikely that the case will be completed by the 12th,” Itumeleng Lesofe, spokesperson for the Pretoria-based antitrust regulator, said by phone on Thursday. “There are still issues that need to be considered.”
The antitrust agency needs to make a recommendation about the deal to South Africa’s Competition Tribunal, which is among regulatory authorities across the world that must sign off on the £74.7bn ($105.1bn) takeover that combines the world’s biggest brewers. The Commission’s previous deadline was on April 5.
Economic Development Minister Ebrahim Patel has filed a notice with the Competition Commission of his intention to participate in the proceedings, Lesofe said. He can get involved at any time, including at the Tribunal stage. A spokesperson for the ministry didn’t immediately respond to a request for comment.
London-based SABMiller, which started selling beer to gold miners in Johannesburg in 1895, controls 90% of South Africa’s market.
