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AB InBev gets SA approval for SABMiller deal

30 June 2016 09:25

Anheuser-Busch InBev's proposed combination with SABMiller has been approved, with conditions, by the Competition Tribunal of South Africa. The Competition Tribunal's approval represents the conclusion of the merger approval process in South Africa and confirms that AB InBev is well on track to close the combination in the second half of 2016.

Chief executive Carlos Brito said: "We are delighted by the Competition Tribunal's decision to approve our proposed combination with SABMiller in South Africa, a market that would play a critical role in the combined company. We recognise South African Breweries' important contribution to the country's economy and society and look forward to building on this through the commitments we have made on jobs and employment, localisation of inputs and production, support for small suppliers and the promotion of black economic empowerment." AB InBev has now obtained approval in 16 jurisdictions. Clearance decisions, with or without conditions, have now been obtained: in Asia-Pacific (Australia, India and South Korea); in Africa (Botswana, Kenya, Namibia, South Africa, Swaziland, and Zambia); in Europe (the EU, Albania, Turkey and Ukraine); and in Latin America (Chile, Colombia and Mexico). Approval in Ecuador is subject to certain conditions.

At 9:25am:

(LON:SAB) SABMiller PLC share price was -9.5p at 4330.5p

Story provided by StockMarketWire.com

Related Company: SAB

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