South Africa approves SABMiller's merger with AB InBev

The $108bn merger, which was announced last year and will create the world’s largest brewer, is now on track to close in the second half of 2016.

AB InBev has now obtained approval in 16 jurisdictions but still needs approval from US and Chinese regulators.

“In the remaining jurisdictions where regulatory clearance is still pending, AB InBev will continue to engage proactively with the relevant authorities to obtain the necessary clearances as quickly as possible.”

Meanwhile, AB InBev is to be investigated by the European Commission over whether it abused its dominant position in the Belgian beer market by hindering imports of its beer from neighbouring countries, in breach of EU antitrust rules.

At 1140 BST, SABMiller shares were down 0.2% to 4,329.50p while AB InBev was up 2.2% to €116.95.