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City Press reports that the Food and Allied Workers Union (Fawu) has promised to challenge the Competition Commission’s (CC’s) conditional approval of the merger between Anheuser-Busch InBev (AB InBev) and SABMiller.
This will be when the matter is considered by the Competition Tribunal. The union has demanded that SAB’s Zenzele empowerment scheme, which includes an employee share ownership programme that only vests in 2020, should get paid out early when the merger occurs. The CC’s condition on BEE, however, advocates more or less the opposite in that it demands that the merged company maintain its black ownership and timeously create a replacement for Zenzele before the 2020 vesting date. Separately, AB InBev has promised that there will be no retrenchments related to the merger in South Africa.
- Read this report by Dewald van Rensburg in full at City Press
- See too, AB InBev beer deal faces Fawu appeal at tribunal, at Fin24
Get other news reports at the SA Labour News home page