Anheuser-Busch InBev NV granted South Africa’s Competition Commission an extension to its investigation into a proposed $105 billion takeover of fellow brewer SABMiller Plc, after the regulator didn’t complete the probe by Tuesday’s deadline.
The Belgian maker of Budweiser and Stella Artois agreed to a second extension this month after an 5 April date was also missed, spokeswoman Kathleen Van Boxelaer said by email, declining to comment further. The antitrust agency needs to make a recommendation about the deal to South Africa’s Competition Tribunal, which will then hold a hearing into the tie-up.
South Africa is just one of the countries where AB InBev is battling regulatory authorities in an effort to complete the combination of the world’s two biggest brewers, and has agreed to retain a secondary listing on the Johannesburg Stock Exchange. The company also made an offer to European Union authorities earlier on Tuesday, a proposal that may include asset sales. It has said it plans to complete the deal by the end of the year.
Itumeleng Lesofe, a spokesman for the Pretoria-based Competition Commission, didn’t immediately respond calls to his office or mobile phone seeking comment.
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