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SABMiller CEO to get R1.2bn payout - report

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SABMiller CEO Alan Clark.
SABMiller CEO Alan Clark.

Cape Town – SABMiller [JSE:SAB] CEO Alan Clark will get a R1.2bn (£55m) payout when Anheuser-Busch (AB) InBev [JSE:ANB] takes over the company, the Financial Times (FT) revealed on Tuesday.

Crunching the numbers from SABMiller’s annual report released on Monday, the UK-based finance publication said while Clark’s remuneration fell 17% to £5.9m (R128.7m) in 2016, the share awards due to him overshadow this pay.

The R1.6trn takeover deal, which will be debated at South Africa’s Competition Tribunal from Wednesday, will likely be completed by around September, analysts told the FT.

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