The world’s largest brewer Anheuser-Busch InBev gained conditional approval on Tuesday for its $100 billion-plus acquisition of SABMiller from South African antitrust regulators, bringing the deal closer to fruition.
Conditions attached to the deal include a binding one that no South African employee be laid off because of the merger, the Competition Commission said in a statement.
Other conditions to the tie-up include a requirement the merged entity sell off SAB’s stake in liquor maker Distell and that it make a 1 billion rand ($63.6 million) investment in South African agriculture.
The companies have also agreed to submit within two years of the merger “black economic empowerment plans setting out how the merged entity intends to maintain black participation in the company, including equity,” the commission said in a statement.
South Africa’s government has a number of targets that companies must meet to lift the ownership of previously disadvantaged blacks in the economy.
Jobs are a major issue in South Africa, where unemployment is over 25 percent and income disparities are glaring, and A-B InBev granted significant concessions on this front as it strives for approval of one of the largest corporate takeovers.
Read more: St. Louis Post-Dispatch