South Africa to extend regulatory scrutiny of the SAB, AB InBev deal

JOHANNESBURG (Reuters) – South Africa’s competition watchdog will ask for another extension to scrutinise of Anheuser-Busch InBev’s planned $106 billion (£75.2 billion) takeover of SABMiller, its spokesman said on Thursday. Google+

The logo of Anheuser-Busch InBev is pictured outside the brewer's headquarters in Leuven, November 10, 2015. REUTERS/Eric Vidal
The logo of Anheuser-Busch InBev is pictured outside the brewer’s headquarters in Leuven, November 10, 2015. REUTERS/Eric Vidal

“We are doing our best to complete the investigation but there is still a plenty work that needs to be done and five days will not be enough to do all the work,” said Competition Commission spokesman Itumeleng Lesofe.

Lesofe said it was not clear how much longer the commission would require to complete its probe.

The watchdog was due to finish its investigation on Tuesday, after failing to secure a 15-day extension earlier his week. It has already extended the deadline three times.

Drawn-out scrutiny by the South African regulator could frustrate the Budweiser brewer’s goal of completing the acquisition in the second half of 2016 and delay reaping the financial benefits of combining the world’s No.1 and 2 brewers.

(Reporting by Tiisetso Motsoeneng; Editing by James Macharia)

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