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South Africa's competition watchdog approves Diageo's acquisition of Brandhouse

Reuters - UK Focus

(Corrects story published Nov 25 story to show Diageo (LSE: DGE.L - news) acquired Brandhouse)

JOHANNESBURG, Nov 25 (Reuters) - South Africa's Competition Tribunal on Wednesday approved the purchase by London-based spirit maker Diageo of the 50 percent stake it did not have in local firm Brandhouse Beverages from beer maker Heineken (Swiss: HEI.SW - news) .

The competition watchdog approved the deal on condition that there is no net reduction of jobs in South Africa. (Reporting by Mfuneko Toyana; Editing by James Macharia)