Advertisement
National

CFTC approves SABMiller takeover

Advertisement

The Competition and Fair Trading Commission (CFTC) has approved the acquisition of 100 percent shareholding in SABMiller by AB InBev, the world’s largest brewer.

In Malawi, SABMiller operates through Malawi Beverages Limited, Malawi Traditional Breweries Limited and Chibuku Products Limited.

The clearance is on condition that there shall be no retrenchment of existing employees of SABMiller and that none of the existing economic activities of SABMiller shall be closed.

Advertisement

In its findings that formed the basis for the approval, CFTC said the transaction would not change the market structure for clear beer in Malawi and that it would also not change other factors that influence competition.

“The merger has been approved but subject to conditions aimed at addressing public interest concerns among them, loss of employment and closure of some economic activities carried out by SABMiller subsidiaries.

“Therefore, the commission has ordered the parties to commit to the following undertaking; that there will be no retrenchment of existing employees of SABMiller and that none of the existing economic activities of the SABMiller shall be closed,” CFTC said in a statement signed by its Executive Director, Wezi Malonda.

Advertisement

Apart from Malawi, the acquisition has also been approved in other jurisdictions such as China, South Africa and the European Commission.

CFTC has also approved the acquisition of shareholding in Charter Insurance Company by Liberty Holdings Limited and Liberty Nominees and acquisition of Star Radio Limited by Trustees of Timveni Child and Youth Media Organisation.

Facebook Notice for EU! You need to login to view and post FB Comments!
Advertisement
Show More
Advertisement

Related Articles

Back to top button
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker