The Competition Authority has received a merger notification for the proposed acquisition of Appletiser and Source Water brands owned by SABMiller Plc by The Coca Cola Company.
The acquiring firm, The Coca Cola Company (TCCC), is a multinational owner of numerous well-known non-alcoholic beverage brands. TCCC is a publicly listed company incorporated under the laws of Delaware, United States of America, with its registered office in Atlanta, Georgia.
TCCC’s business model is to separate ownership of brands and bottling activities and as such has its products prepared, bottled and distributed by authorised entities, referred to as ‘bottlers’. Kgalagadi Breweries (Pty) Ltd is an authorised Coca Cola bottler in Botswana, authorised to produce, sell and distribute finished products including Coca Cola, Fanta, Sprite, Tab, Stoney and Sparletta.
SABMiller Plc is a public company in the alcoholic and non-alcoholic drinks business, with a primary listing in the London Stock Exchange and a secondary listing in the Johannesburg Stock Exchange. SABMiller Plc is the parent company to SABMiller International BV, a subsidiary owning the rights, title and interest in and to all trademarks related to the Appletiser brands and Source Water brand.
SABMiller Plc directly and indirectly controls a number of undertakings throughout the world. In Botswana, SABMiller Plc controls and operates through Kgalagadi Breweries (Pty) Ltd as one of its key principal subsidiaries.
Kgalagadi Breweries (Pty) Ltd sources and imports from Appletiser South Africa (Pty) Ltd some of the finished Appletiser branded products (specifically, Appletiser and Grapetiser), for distribution within Botswana. Appletiser South Africa (Pty) Ltd is a wholly owned subsidiary of the South African Breweries (Pty) Ltd which is, in turn, a subsidiary of SABMiller Plc.
On the other hand, Source, a water brand is, manufactured and distributed in Botswana by Kgalagadi Breweries (Pty) Ltd under the Source brand. In the proposed transaction, TCCC seeks to acquire the rights, title and interest in and to all trademarks related to the Appletiser and Source brands, owned by SABMiller International BV, a subsidiary to SABMiller Plc.
According to section 57(3), of the Competition Act, “any person, including a third party not a party to the proposed merger, may voluntarily submit to the inspector or the Authority any document, affidavit, statement or other relevant information in respect of a proposed merger”.
In a statement the Competition Authority says it seeks any stakeholder views for or against the proposed merger, which may be sent within 10 days from date of this publication.
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.
The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.
In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.
Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.
China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.
Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.
On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.
According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.
The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.
Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.
According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.
The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.
Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.
Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.
Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana. The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.