Competition Commission of South Africa completed its investigation and recommended the Competition Tribunal approve Anheuser-Busch InBev‘s acquisition of SABMiller.
ABI said it was “pleased” with the action, saying it’s “an important milestone in the process of securing regulatory approval in South Africa.” ABI said it “beleives it is well on track to secure the necessary regulatory approvals to allow for closing in the second half.
The news gave a boost to shares of Molson Coors Brewing Co., which has agreed to acquire SABMiller’s 58% share of MillerCoors if the ABI-SABMiller deal goes through. Molson Coors stock rose 1.02% to close at $99.18.