Training programme provides big dreams for small town boy

Training programme provides big dreams for small town boy

Posted By: Shopprice South Africa Cape Town – As a child growing up in the small town of Zoar in the Western Cape, Ryan Adams had two dreams: to one day be More »

6 aid workers killed in South Sudan

6 aid workers killed in South Sudan

Posted By: Shopprice South Africa   Six aid workers were killed in an ambush in South Sudan on Saturday, the UN’s humanitarian coordinator for the country said. The aid workers were traveling More »

Trump: US will act unilaterally on North Korea if necessary

Trump: US will act unilaterally on North Korea if necessary

Posted By: Shopprice South Africa (CNN)US President Donald Trump has declared he would be willing to go it alone to restrain North Korea’s nuclear weapons program should China fail to change the More »

Climate change could render Sudan ‘uninhabitable’

Climate change could render Sudan ‘uninhabitable’

Posted By: Shopprice South Africa Temperatures are rising, water supplies are scarce, soil fertility is low and severe droughts are common. After years of desertification, its rich biodiversity is under threat and More »

Farm workers still maltreated, hearings find

Farm workers still maltreated, hearings find

Posted By: Shopprice South Africa Evictions and the bad, cruel behavior of farm workers were among the troubling trends uncovered by country-wide hearings by the cover Committee on Rural Development and Land More »

Limpopo residents attack pastors and congregation

Limpopo residents attack pastors and congregation

Posted By: Shopprice South Africa The Limpopo police have pushed into water a manhunt for a group of group members who attacked church pastors and their persons in great number in Mecklenburg More »

EFF to hold vigil on Sunday evening ahead of Malema’s court appearance

EFF to hold vigil on Sunday evening ahead of Malema’s court appearance

Posted By: Shopprice South Africa EFF first Julius Malema said to so give support to his supporters to go into land 2 years ago at the meeting of friends’ elective meeting The More »

EFF will ask Parliament to dissolve Eskom board

EFF will ask Parliament to dissolve Eskom board

Posted By: Shopprice South Africa The Economic Freedom Fighters on Friday called on the board of Eskom to move after Ceo Brian Molefes example in making ready to put up with too More »

Kidnapped Cape businessman still missing

Kidnapped Cape businessman still missing

Posted By: Shopprice South Africa Cape Town business-man Naushad Deshmukh was still lost by Friday after 12 a.m. with no new developments, Western Cape police said.Representative Captain FC Van Wyk said the More »

DA to lay charges against Brian Molefe after Eskom resignation

DA to lay charges against Brian Molefe after Eskom resignation

Posted By: Shopprice South Africa The Democratic agreement (DA) will put charges against Eskom Ceo Brian Molefe supporters his statement giving up position, the meeting of friends said on Friday. Molefe resigned More »

 

SA extends regulatory scrutiny of beer deal

2440840776

Shopprice South Africa

Johannesburg – South Africa’s competition watchdog was on Thursday granted an extra five days to study Anheuser-Busch InBev’s planned $106 billion takeover of SABMiller – a fifth extension that could delay the consumer industry’s biggest ever deal.

“There are several outstanding issues that should be considered. The merging parties are aware of these issues, and hence they have consented to the extension,” Competition Commission spokesman Itumeleng Lesofe told Reuters.

Read: Commission wants more time to weigh beer deal

The Commission was due to finish its investigation on Thursday, after it was granted a 15-day extension. It has already extended the deadline four times.

The new deadline expires on May 12.

Drawn-out scrutiny by the South African regulator could frustrate the Budweiser brewer’s goal of completing the acquisition in the second half of 2016 and delay reaping the financial benefits of combining the world’s No. 1 and 2 brewers.

Lesofe declined to elaborate on the Commission’s concerns but said an additional five days might not be enough to address the outstanding issues.

In a bid to fast-track the regulatory probe of the deal, AB InBev struck a deal with the South African government that included investing $66 million to support small farmers and freeze layoffs for five years.

South Africa has a history of taking its time over approving takeovers partly because competition authorities have a public interest mandate to safeguard jobs, in addition to an anti-trust mandate to protect competition.

In 2011, the regulator told US retailer Wal-Mart Stores not to cut jobs for two years following its acquisition of South African retailer Massmart, delaying implementation of the $2.4 billion deal by at least two months.

The Commission investigates deals for any anti-trust issues and submits its views to the Competition Tribunal, which makes a final ruling on whether a deal should go ahead.

Since the deal was announced in November, AB InBev has completed a secondary listing on the Johannesburg Stock Exchange, lined up debt financing and addressed anti-trust concerns in the United States, Europe and China with proposed asset sales.

AB InBev still has to secure antitrust clearance in Europe, where both it and its target are headquartered. The European Commission has said it will give its verdict on the deal on May 24.

Australia’s antitrust regulator on Thursday cleared the deal, saying the transaction would not adversely affect the domestic market.

REUTERS

Leave a Reply

Your email address will not be published. Required fields are marked *

eighteen − three =

Anti-Spam Quiz:

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>