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SAB - SABMiller - SABMiller Africa announces acquisition of Maheu beverage
portfolio in Zambia
SABMiller
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
8 September 2009
SABMiller Africa announces acquisition of Maheu beverage portfolio in Zambia
SABMiller Africa announces that its operating subsidiary in Zambia, Heinrich`s
Syndicate Limited, has entered into an agreement with Trade Kings Limited to
acquire its Maheu business for a total cash consideration of approximately
US$19.25 million. The transaction includes the purchase of the Maheu brand
`Super Maheu No.1` which is a non-alcoholic maize drink available in a variety
of flavours.
Completion of the acquisition is subject to certain customary conditions
precedent including approval from the Zambia Competition Commission which was
received last month. It is anticipated that completion of the acquisition will
take place in the next two months.
Within Zambia, SABMiller Africa already owns Zambian Breweries Group, the
largest clear beer and soft drinks business in the country and 70% of National
Breweries Plc which is listed on the Lusaka Stock Exchange (LuSE) and commands
a substantial amount of the opaque beer market.
The acquisition seeks to further strengthen SABMiller Africa`s objective of
expanding the price range of both its alcoholic and non-alcoholic brand
portfolios across the continent.
SABMiller Africa intends to grow the Maheu business throughout Zambia and
across a variety of African markets, resulting in both increased sales volumes
and further employment opportunities.
Following the completion of the transaction, SABMiller Africa will continue to
employ the existing Trade Kings staff engaged in the production of Maheu.
Ends
Notes to editors:
About SABMiller plc
SABMiller is one of the world`s largest brewers with brewing interests and
distribution agreements across six continents. The group`s wide portfolio of
brands includes premium international beers such as Grolsch, Miller Genuine
Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as market-leading
local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller
is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2009, the group reported US$3,405 million in
adjusted pre-tax profit and group revenue of US$25,302 million. SABMiller is
listed on the London and Johannesburg stock exchanges.
This announcement is available on the company website: www.sabmiller.com
High resolution images are available for the media to view and download free
of charge from www.sabmiller.com or www.newscast.co.uk
Contact
Mr Jonathan Oates
Business Media Relations Manager
SABMiller plc
+44 207 659 0144
Jonathan.oates@sabmiller.com
This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
"Company") or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.
This announcement includes "forward-looking statements". These statements may
contain the words "anticipate", "believe", "intend", "estimate", "expect" and
words of similar meaning. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company`s financial position, business strategy, plans and
objectives of management for future operations (including development plans
and objectives relating to the Company`s products and services) are
forward-looking statements. These forward-looking statements involve known
and unknown risks, uncertainties and other important factors that could cause
the actual results, performance or achievements of the Company to be
materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. These forward-
looking statements are based on numerous assumptions regarding the Company`s
present and future business strategies and the environment in which the
Company will operate in the future.
These forward-looking statements speak only as at the date of this
announcement. The Company expressly disclaims any obligation or undertaking
to disseminate any updates or revisions to any forward-looking statements
contained in this announcement to reflect any change in the Company`s
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based. Any information contained
in this announcement on the price at which the Company`s securities have been
bought or sold in the past, or on the yield on such securities, should not be
relied upon as a guide to future performance.
Date: 08/09/2009 12:00:01 Supplied by www.sharenet.co.za
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