FUND TO BOOST BEER IN­DUS­TRY

Finweek English Edition - - THE WEEK -

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.

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