FUND TO BOOST BEER INDUSTRY
Anheuser-Busch InBev (AB InBev) will create a R1bn fund to provide financial support to the local beer industry, notably to help new farms produce raw materials like hops and barley, as part of its proposed $105bn takeover of SABMiller, Bloomberg reported. The deal with the South African government also includes a commitment that there will be no involuntary job losses in SA as a result of the transaction at any point in the future,
said. AB InBev will maintain its total permanent employee levels in SA for five years, it said. The deal is expected to streamline approval from the Competition Commission, which has to make a decision by 5 May.