Johannesburg - Anheuser-Busch (AB) InBev [JSE:ANB] granted South Africa’s Competition Commission a 15-day extension to its investigation into a proposed $105bn (R1.54trn) takeover of fellow brewer SABMiller [JSE:SAB], after the regulator failed to complete the probe by Tuesday’s deadline.
The antitrust agency now has until May 5 to complete an assessment into the impact of the acquisition on the South African market, Competition Commission spokesperson Itumeleng Lesofe said in e-mailed comments. He didn’t say why the investigation needed to be prolonged. It’s the second time this month the regulator has failed to meet a deadline after an April 5 date was also missed.
South Africa is just one of the countries where Leuven, Belgium-based AB InBev is battling regulatory authorities in an effort to combine the world’s two biggest brewers, and has agreed to retain a secondary listing on the Johannesburg Stock Exchange. The company also made an offer to European Union authorities earlier on Tuesday, a proposal that may include asset sales. It has said it plans to complete the deal by the end of the year.