BRIEF-SABMiller, Coke reach agreement with S.Africa over deal conditions

miércoles 4 de mayo de 2016 02:46 GYT
 

May 4 (Reuters) - SABMiller Plc :

* Update on Coca-Cola Beverages Africa transaction

* Coca-Cola Beverages Africa Merger Parties and South African Government reach agreement on public interest conditions for merger

* Company agreed to invest R800 million to support enterprise development for two groups of entrepreneurs

* Deal between merger parties include selling a 20 pct shareholding in Appletiser South Africa

* Comprehensive set of commitments agreed between merger parties will be recommended to competition tribunal

* Merger parties undertook to ensure that merged entity maintains its total permanent employment at current levels for a period of three years from date of approval of deal

* Commitments address concerns regarding employment, access to retail cooler space for smaller competitors,

* Commitments also address concerns regarding localisation of production and inputs used in production of coca-cola products

* Competition tribunal hearing on proposed formation of Coca-Cola Beverages Africa is due to commence on May 9, 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)