31st May 2016 15:58
LONDON (Alliance News) - Anheuser-Busch InBev NV on Tuesday said it has secured conditional approval for its takeover of rival SABMiller PLC from South African competition authorities.
AB InBev, which is acquiring SABMiller for GBP71.00 billion in a deal which will create by far the largest brewer in the world, with a market share of the global beer market of around a third.
AB InBev said the Competition Commission of South Africa has completed its investigation into the deal and recommended the deal be approved with conditions.
The Budweiser-owner said the approval, following the regulatory nods from the South African Reserve Bank and European Commission, leaves it on track to secure all necessary approvals for the deal which will allow for the merger to close in the second half.
SABMiller shares closed down 0.2% to 4,276.91 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
SAB.L