AB InBev agrees concessions with South Africa over SAB dealStaff writer ▼ | April 15, 2016
Anheuser-Busch InBev will invest 1 billion rand ($69 million) to support small South African farmers.
Beer and farms Anheuser-Busch InBev will support small SA farmers
This is part of concessions agreed with the government to secure regulatory approval for its $100 billion-plus takeover of SABMiller, it said.
The world's biggest brewer said the concessions, which also include a five-year freeze on layoffs, were agreed with the South African Ministry of Economic Development.
"It is expected that the agreement on terms between government and the merger parties will expedite the merger proceedings before the South African competition authorities," AB InBev said.
"The commitments made by the company are the most extensive merger-specific undertakings made to date in a large merger. In our view, they meet the requirements of the competition legislation,” Economic Development Minister Ebrahim Patel said.
South African Competition Commission this week extended its scrutiny of the deal, saying it needed at another 15 days to complete its investigation. It has already extended the deadline four times. ■