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Bloomberg reports that Anheuser-Busch InBev (AB InBev) has proposed enhancing an employee-share programme after the Food and Allied Workers’ Union (Fawu) threatened to protest regulatory consent of its takeover of fellow brewer SABMiller.
AB InBev will ensure participants of the plan receive the same premium offered to SABMiller shareholders by guaranteeing a minimum rand value for the so-called Zenzele shares when the programme matures in 2020, based on the £44 per share offered to SAB shareholders. It is also proposing an upfront cash payment, which would be paid soon after the takeover is completed and would be included in the guaranteed amount. But that’s not enough according to the union, which wants the employee-share programme to be wound up immediately, not when it matures, and to be replaced with a new plan that is more relevant to the enlarged company.
- Read this report by Liezel Hill in full at BDLive
Get other news reports at the SA Labour News home page