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Fin24 reports that the Competition Tribunal on Tuesday conditionally approved a SABMiller and Coca-Cola deal to combine their African soft drink operations into what would be the continent's biggest Coke drinks bottler.
SABMiller and Coca-Cola struck a deal with the South African government earlier this month that included an R800m investment to support small businesses and a three-year freeze on layoffs. The Tribunal said the deal can go ahead subject to several conditions. These include the enlarged group limiting job cuts to 250, providing business skills to 25,000 black retailers and ensuring it purchases cans, glass, sugar, fruits and crates from local suppliers. SABMiller, which is in the process of being taken over by Anheuser-Busch InBev, agreed in November 2014 to team up with Coke and the South African owners of local bottler Coca-Cola Sabco to create Coca-Cola Beverages Africa.
- Read this report in full at Fin24
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