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The Competition Tribunal of South Africa has handed down conditional approval of Anheuser-Busch InBev's acquisition of SABMiller.
Anheuser-Busch InBev has now cleared its acquisition of SABMiller in 16 jurisdictions
Last month, the Competition Commission approved the takeover, provided the merged entity sells SAB's stake in Distell. AB InBev had also previously agreed a raft of concessions with the South African Government. As part of the package, AB InBev pledged to ensure there will be no "involuntary job losses" in the country at any point in the future.
A spokesperson for the company told just-drinks that the conditions are "broadly in line with, maintain and, where considered necessary by the Tribunal, amplify the principles of those conditions previously agreed with the South African Government".
The conditional clearance from the Competition Tribunal, which was granted late yesterday, marks the final stage of the merger consideration process in South Africa.
For just-drinks' coverage of Anheuser-Busch InBev's takeover of SABMiller, click here
"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," said AB InBev CEO Carlos Brito. "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 obtainedin: Asia-Pacific (Australia, India and South Korea); Africa (Botswana, Kenya, Namibia, South Africa, Swaziland, and Zambia); Europe (the EU, Albania, Turkey and Ukraine); and Latin America (Chile, Colombia and Mexico). Approval in Ecuador is subject to certain conditions.
The company said that it is "well on track" to close the combination in the second half of 2016.
To read the Competition Tribunal's full ruling, click here.
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Sectors: Beer & cider, Mergers & acquisitions
Companies: Anheuser-Busch InBev, Distell, SABMiller
