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SA Reserve Bank grants forex approval for beer mega-merger

AB InBev and SABMiller move forward another step.

The South African Reserve Bank (Sarb) has granted the necessary exchange control approvals to Anheuser-Busch InBev (AB InBev) and SABMiller to enable the merger to go ahead.

Approval from Sarb represents an important milestone in the process of securing regulatory clearance for the transaction in South Africa.

This follows on from the European Commission’s approval of its recommended combination with SABMiller plc earlier this week. The Brussels’ competition regulator ruled the £71 billion deal would not hurt consumer prices in Europe. However the approval is contingent on AB InBev selling SABMiller’s entire beer business in Europe.

As such AB InBev now believes it is well on track to secure the necessary regulatory approvals that will allow for closing in the second half of 2016.

The combination between AB InBev and SABMiller would create a truly global brewer, providing more choices for beer drinkers, including global and local brands, in new and existing markets around the world.

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