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Business Report writes that the Competition Tribunal has approved a merger between SABMiller and Anheuser-Busch InBev, which will create the largest beer brewing company in the world.
The Tribunal, in approving the merger, subjected it to conditions to address both public interest and competition concerns arising from the merger. In a statement released on Thursday, the tribunal said the conditions it has imposed were, for the most part, similar to those proposed by the commission in its recommendation and those contained in an earlier agreement between the merging parties and three government ministries. Some conditions have been changed after submissions made to the Tribunal. The evergreen restriction on merger-related retrenchments, while retained, has been clarified with a provision which, after a period of five years, shifts to employees the burden of proving that any retrenchments were a result of the merger. A provision relating to an employee share scheme known as Zenzele, which was the subject of contention between the Food and Allied Workers Union (Fawu) and the merging parties, has been removed at the request of both parties.
- Read this report by Nicola Mawson in full at Business Report
- See too, AB InBev faces two more hurdles before SAB can say cheers, at Fin24
Get other news reports at the SA Labour News home page