LONDON – Anheuser-Busch InBev pledged not to eliminate any jobs in South Africa following its takeover of SABMiller as part of an agreement designed to expedite the merger.
The pact with South Africa's government was announced after markets closed Thursday. AB InBev also agreed to invest 1 billion rand ($68.8 million) to support small farmers, enterprise development and local manufacturing.
The maker of Budweiser also says it will work with the government to reduce the harmful use of alcohol.
AB InBev CEO Carlos Brito says the agreement recognizes the former South African Breweries' "important contributions to South Africa's economy and society."
He added that "there is a huge amount that the two companies can achieve together to the benefit of all stakeholders."
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