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.
