The City of New Delhi in India has banned AB InBev from selling its products in the city for three years for allegedly evading paying local excise taxes.
According to the government citation, a three-year investigation by the authorities allegedly found that SABMiller, which was acquired by AB InBev in 2016 used duplicate barcodes on its beer bottles supplied to city retailers that year, which allowed it to pay lower taxes.
Delta Corporation, Zimbabwe’s largest brewer and a unit of AB InBev said on Thursday that it has reached an agreement to acquire a controlling interest in National Breweries of Zambia.
In a released statement, Delta said that equity is being acquired from Heinrich’s Syndicate, also a subsidiary of AB InBev.
“The equity is being acquired from Heinrich’s Syndicate, a subsidiary of AB InBev. The transaction is subject to various regulatory approvals. The impact of this transaction is currently being determined but is not material for Delta,” said Alex Makamure, Delta’s Company Secretary.
Anheuser-Busch InBev announced on Wednesday that it had completed the sale of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA), the continents largest Coke bottler to The Coca-Cola Company (TCCC) for $3.15bn after customary adjustments, as announced on December 21, 2016.
CCBA was formed in 2016 through the merger of SABMiller’s African non-alcoholic beverage interest with The Coca-Cola Company’s South African operations and the Gutsche Family Investments, the owners of South African-based Coca-Cola Sabco.
South African Breweries (SAB), a subsidiary of Anheuser-Busch InBev in South Africa, on Monday unveiled an ambitious programme to create 10,000 jobs in South Africa by 2021.
AB InBev which last year acquired SABMiller, a brewer with deep roots in South Africa said the jobs to be created would come from the company’s various entrepreneurship schemes such as SAB Kickstart, SAB Foundation, SAB Thrive and SAB Accelerator, as well as its agriculture programmes to grow emerging farmers.
Coca-Cola said on Thursday that it had reached an agreement with the South African government on a package of conditions addressing public interest considerations in connection with the proposed acquisition of AB InBev’s 54.5% stake in Coca-Cola Beverages Africa (CCBA).
The soft drinks giant reaffirmed its commitment to honour all merger conditions agreed with South African regulators when CCBA opened for business in 2016. Coke also agreed to ensure that the majority shareholder of CCBA will honour all merger conditions agreed at the creation of the company.
Anheuser-Busch InBev said on Wednesday that it has completed the sale of its indirect shareholding in South Africa’s Distell Group, the continent’s largest wine and spirits producer to the country’s Public Investment Corporation (PIC), a state owned corporation that manages the government’s Employee Pension Fund.
The financial terms of the deal were not disclosed.
“The sale was required as a condition of the South African Competition Tribunal’s approval on 30 June 2016 of the business combination between AB InBev and SABMiller,” AB InBev said in a statement.
Anheuser-Busch InBev (AB InBev) on Friday announced it had completed the sale of businesses and brands formerly owned by SABMiller in Central and Eastern Europe to Asahi Group Holdings of Japan.
The divestitures which were part of the brewer’s acquisition of SABMiller were done in accordance with agreements reached with European anti-trust regulators on 18 May 2016.
International Breweries Plc (“IB Plc”), the Ilesha-based brewer owned by Anheuser-Busch InBev (AB InBev) on Tuesday reported a net loss of –N473m in the first nine months of its financial year (Apr – Dec 2016), a much smaller loss when compared to the first quarter and half-year when it recorded an abysmal –N1.7bn and –N1.9bn loss respectively.
Anheuser-Busch InBev (AB InBev) is said to have sent out a voluntary severance offer to over 1,000 mid-level managers in South Africa on 12th December as it prepares to trim its workforce in the country, South African Business Day reported on Monday.
The brewer which acquired SABMiller, its nearest rival in a $103bn deal last year sent out a mouthwatering offer to mid-level managers with a 20th January deadline.
Soft drinks giant Coca-Cola announced on Wednesday it has agreed to buy SABMiller’s 54.5% stake in Coca-Cola Beverages Africa (CCBA) from AB InBev for $3.15bn.
Coca-Cola and AB InBev said in a joint statement that they had agreed to the transfer of AB InBev’s 54.5% stake in CCBA to The Coca-Cola Company (TCCC). The stake was formerly owned by SABMiller before the mega beer acquisition that saw SAB merge with AB InBev.
