for subscribers

Fawu pulls out of AB InBev-SAB merger hearing

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Johannesburg - Anheuser-Busch InBev cleared a hurdle toward gaining approval for the brewer’s takeover of SABMiller in South Africa as the Food and Allied Workers Union (Fawu) said it will take no further part in the regulatory approval process.

The Fawu agreed with the merging brewers and South Africa’s Economic Development Minister Ebrahim Patel that most conditions relating to the future of SABMiller’s Zenzele employee-share programme be removed from the Competition Commission’s recommendation of the deal.

The Fawu therefore won’t argue its case against the conditions at the Competition Tribunal hearing in Pretoria this week, and will instead negotiate on behalf of the programme’s participants separately with AB InBev.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.18
(-0.67)
ZAR/GBP
20.64
(+0.02)
ZAR/EUR
18.35
(-0.11)
ZAR/AUD
11.72
(+0.11)
ZAR/JPY
0.15
(-0.61)
Gold
1830.40
(-0.82)
Silver
24.78
(-2.91)
Platinum
1082.00
(-2.86)
Brent Crude
56.41
(+0.64)
Palladium
2395.00
(-0.19)
All Share
63549.75
(-0.52)
Top 40
58446.35
(-0.49)
Financial 15
11916.89
(+0.01)
Industrial 25
83811.01
(+0.08)
Resource 10
63855.25
(-1.46)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 646 votes
No, I did not.
51% - 1602 votes
My landlord refused
28% - 867 votes
Vote