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South Africa: South Africa regulator unlikely to Meet SABMiller Deadline

By  |  April 7, 2016
South Africa: South Africa regulator unlikely to Meet SABMiller Deadline

South Africa’s Competition Commission probably won’t meet a new April 12 deadline to complete an investigation into Anheuser-Busch InBev NV’s takeover of SABMiller Plc, further delaying the process of gaining regulatory approval for a combination of the world’s biggest brewers.

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    “It’s unlikely that the case will be completed by the 12th,” Itumeleng Lesofe, spokesman for the Pretoria-based antitrust regulator, said by phone Thursday. “There are still issues that need to be considered,” he said, declining to provide specifics.

    The antitrust agency needs to make a recommendation about the deal to South Africa’s Competition Tribunal, which is among regulatory authorities across the world that must sign off on the $105 billion takeover. The Commission’s previous deadline was on April 5. The maker of Budweiser has said it plans to complete the deal by the end of the year.

    “We remain hopeful that there will be no unnecessary delays in South Africa, particularly as it is widely accepted that there are no competition issues,” AB InBev spokeswoman Karen Couck said in e-mailed comments. The Leuven, Belgium-based company agreed to the April 12 extension and “hope matters can be finalized shortly,” she said.

    Full content: Bloomberg

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