South Africa's Competition Tribunal approved Thursday the blockbuster buyout of SABMiller by the world's top brewer AB InBev, subject to conditions, paving the way towards completion of the global deal.

"The Competition Tribunal approved the merger between beer giants Anheuser-Busch InBev (AB InBev) and SABMiller plc subject to wide ranging conditions designed to address both public interest and competition concerns," it said in a statement.