SABMiller, the international brewer, has been given the green light from authorities in Australia for its proposed A$9.9bn (£6.47bn) takeover of Foster’s Group. It came after SABMiller gave assurances to the Australian Federal Treasurer regarding its intentions for Foster’s, and also the remaining 50% of Pacific Beverages (PacBev) that it doesn’t currently own. In a statement, SABMiller said: “SABMiller has provided certain undertakings to the Treasurer in relation to the Foster’s acquisition as part of the Foreign Investment Review Board process. Given the local nature of Foster’s brewing business and its focus on Australian customers, these undertakings are consistent with our current intentions for the business, and will not affect our ability to integrate Foster’s and PacBev or to compete effectively in Australia. “The Treasurer’s approval of the transaction marks the final regulatory condition to be satisfied ahead of the shareholder vote at the upcoming scheme meeting scheduled for 1 December 2011. “If approved by shareholders at the scheme meeting, SABMiller continues to expect the acquisition to be completed before the end of 2011.” In September, SABMiller and Foster’s agreed an offer, subject to shareholder approval, for the Australian brewer of A$9.9bn (£6.47bn), or A$5.10 (£3.33) per share. It represents an enterprise value of A$11.5bn (£7.52bn), 2.8% higher than SAB’s initial proposal of A$11.2bn (£7.35bn), announced in June.