Zimbabwe’s largest brewery, Delta Beverages, is looking to buy Malawi Traditional Beverages Limited for an undisclosed amount,.
Local media in Zimbabwe reported on Friday that authorities in Malawi have revealed the deal.
Report say that,The development was confirmed by Malawi’s Competition and Fair Trading Commission and regional trading block COMESA, both of which must approve the transaction.
A unit of global beverages company SABMiller,Delta is listed on the Zimbabwe Stock Exchange
(ZES) where it is one of the biggest corporations by market capitalisation.
The Malawi commission told the press that the intended acquisition was still in the “preliminary stages of assessment”.
Willard Mwembe, the head of Mergers and Acquisitions at the COMESA told the press that welorking with their counterparts at competition and Fair Trading Commission in Malawi both in Zimbabwe,Zambia and Malawi to determine the likely effecr of the transactions in market
“Currently, we are working with our counterparts at the Competition
and Fair Trading Commission in Malawi (CFTC), the Competition and Tariff Commission of Zimbabwe and the Competition and Consumer Protection Commission of Zambia to determine the likely effects of the transaction in the market,” said Mwembethe
Also commenting on the deal Malawi’s competition commission official Lewis Kulisewa said;
“The merger application will be processed at the COMESA
Competition Commission as it involves several Comesa member states.”
On the likes jobs impact of the takeover, Kulisewa said, The commission has not yet finalised the assessment but the public shall be informed of their assessment once the transaction is
considered by their board.”
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