Brewing giant, AB InBev received another clearance on Thursday as the Australian Competition and Consumer Commission (ACCC) gave its go-ahead to the brewer’s pending merger with SABMiller.
“The ACCC found that the proposed acquisition would not significantly change the current market structure.”
The economic turmoil in the country is having an adverse effect on the fortunes of many Fast-Moving Consumer Goods companies (FMCGs).
Nielsen Consumer Confidence Index, which is a key measure of the economic health of the country, has seen a significant drop in consumer confidence index in Nigeria due largely to weak macro-economic factors, rising inflation, weakened consumer income, all of which has affected the way consumers feel about the future.
Anheuser-Busch InBev, said unfavorable currency effects, one-off financing costs and weak business in Brazil, one of its biggest markets caused earnings in the first quarter to fall 10%.
The maker of Stella Artois, Budweiser, Corona, among others, said that revenue for the quarter fell 10% to $9.4bn, from $10.453bn a year earlier.
