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Last updated: 02 June 2016
FAWU statement on the Recommendations of the Competition Commission Re ABInbev and SABMiller Transaction (01st June 2016)
2 June 2016
The Food and Allied Workers Union (FAWU) notes with concern the press release by the Competition Commission on its conditional approval of the transaction relating to the takeover of SABMiller by ABInbev, given its downplaying of the submission made by FAWU on the critical issue of the Zenzele Employee Share Ownership Program (ESOP) scheme as a public interest issue and discriminated and differentiated treatment of other shareholders from BEE shareholders.
We, meanwhile, do note and are comfortable with the agreement reached between government and he merging parties, such as on job security and supplier support fund, as well as the other conditions recommended by the Commission, such as the sale of SAB stake in Distell Wines and Spirits.
However, as FAWU, we will be fully exercising our rights in terms of the Competition Act as comprehensively amended 1998, in order to argue our case before the Competition Tribunal as we believe the condition on Zenele has not addressed those concerns.
If anything, we may be appealing the Ruling of the Competition Tribunal to the Competition Appeal Court should we arrive at a conclusion that the ruling did not meaningfully take our argument into account and even take the matter to the Constitutional Court as we are of a view that there could be constitutionally valid arguments to argue.
We will be consulting with the leadership of our members in a national gathering on Wednesday and they will be consulting with all members, blue collar workers and the rest of the beneficiaries in the next week for further guidance on the way forward.
For more information feel free to contact the FAWU General Secretary, Katishi Masemola at 082 467 2509
Issued by KATISHI MASEMOLA, FAWU General Secretary