SABMiller, tha multi-national lager brewing company, says it has won regulatory approval for its £6.5bn takeover of Foster's.
In return for the thumbs up from the Australian Federal Treasurer SABMiller says it has agreed to keep the management of Foster's in Australia.
The firm argues that because Foster's is already focused on Australian customers this was "consistent with our intentions for the business".
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SABMiller now expects the transaction to complete before the end of 2011 subject to a shareholder vote in December.
BS
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