Australia: Australia’s competition watchdog has approved SABMiller’s A$10bn bid for Foster’s Group. “The proposed acquisition is not likely to result in a substantial lessening of competition for the supply of beer,” said Rod Sims, chairman of the Australian Competition and Consumer Commission. The deal still requires the approval of the Foreign Review Investment Board and Foster’s shareholders.
China: AB InBev has teamed up with GE to improve water and energy efficiency at its breweries in China. The global brewer is hoping the deal will help the company beat its 2012 target of reducing the global water-to-beer ratio to 3.5 from 4.04 in 2010 and slashing CO2 emissions by 100,000 tonnes a year. “We are very pleased to engage in this strategic partnership with GE as we continue to strive for more sustainable manufacturing processes,” said Ricardo Dias, VP of procurement for AB InBev Asia-Pacific.