Pursuits
SABMiller Agrees to S. African Funds for Coca-Cola Bottle Merger
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SABMiller Plc and Coca-Cola Co. agreed with the South African government to protect jobs and set up two 400 million-rand ($27 million) development funds in order to secure antitrust approval for the creation of bottling operations for non-alcoholic beverages in southern and eastern Africa.
The proposed merged entity will maintain total permanent employment at current levels for a period of three years, London-based brewer SABMiller said in a statement on Wednesday. One of the funds will be invested in agriculture development and the second to develop retailers owned by people discriminated against during apartheid, the company said.