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SA's highest competition authority has finally approved Dutch brewer Heineken's R40 billion tie-up with JSE-listed liquor group Distell nearly a year-and-a-half after the deal was first officially announced.
Distell, which owns brands such as Savanna, Hunter's Dry and Amarula, said on Thursday the decision by the Competition Tribunal to green-light the deal, with some conditions, marked an important milestone, with the transaction now expected to be completed in April.
The conditions imposed by the body would be made available on the Competition Tribunal's website in due course, it said, adding they aligned "broadly" with those proposed by the Competition Commission when it gave approval in November.
READ | Heineken can buy Distell - but must sell Strongbow among many conditions, says competition body
Heineken said in a statement that welcomed the ruling that the decision marks the final regulatory approval for the deal.
Heineken CEO and executive board chairperson Dolf van den Brink said the group was "delighted the Competition Tribunal has approved the deal".
The brewer was "committed to being a strong partner for growth and making a positive impact in the communities in which we operate", he said.
Heineken said the approval gives the go-ahead for an "ambitious package" of public interest commitments including ongoing business investment, broad-based black economic empowerment, job creation, localisation and supplier development.
