SABMiller has received final court clearance to implement its black economic empowerment initiative in South Africa.
A UK High Court judge approved the plan yesterday (3 February).
The ruling gives the Miller Genuine Draft brewer the green light to implement its plan to sell shares to black investors, including retailers and workers.
In January, SABMiller shareholders backed the proposal, which aims to sell a total 8.45% stake in the group’s South African Breweries business.
Licensed retailers will be able to purchase shares from later this month, while final allocations of shares will be made in May, said UK-listed SABMiller.
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