Wrap Text
Anheuser-Busch InBev in receipt of a binding offer for the conditional saleof Peroni, Grolsch and Meantime business
SABMiller plc
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
10 February 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO
ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION
THE FOLLOWING ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS OR
PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY
INVESTMENT DECISION IN RELATION TO NEWCO SHARES EXCEPT ON THE BASIS OF THE
INFORMATION IN THE TRANSACTION DOCUMENTS WHICH ARE PROPOSED TO BE
PUBLISHED IN DUE COURSE
Anheuser-Busch InBev in receipt of a binding offer for the conditional sale
of Peroni, Grolsch and Meantime businesses to Asahi
SABMiller has been informed by AB InBev that it is in receipt of a binding offer from Asahi Group
Holdings, Ltd to acquire SABMiller’s Peroni, Grolsch and Meantime (PGM) brands and their
associated businesses in Italy, the Netherlands and the UK for EUR 2,550 million on a debt free/cash
free basis.
The proposed sale is in line with AB InBev’s commitment to proactively address potential regulatory
considerations relating to its recommended offer to acquire SABMiller. The Asahi binding offer, if
accepted by AB InBev following required employee consultation, is conditional on completion of the
AB InBev acquisition of SABMiller. This is currently expected to occur in the second half of 2016.
The brands and operations of Royal Dutch Grolsch NV, Birra Peroni, Miller Brands UK, the Meantime
Brewing Company, and SABMiller’s sales and marketing office in France are included in the scope of
the binding offer. The global rights to the Grolsch, Peroni and Meantime brands are also be included
in the scope of the binding offer, with the exception of the rights in the United States for the Peroni
and Grolsch brands.
Alan Clark, Chief Executive of SABMiller said: “SABMiller has grown Peroni and Grolsch into world-
renowned premium brands, and we are confident that, along with fast-growing modern craft brewer
Meantime, they will continue to thrive and develop. These beers will continue to be part of SABMiller
and sold and managed by us until the change of control.”
ENDS
Notes to editors
SABMiller is in the beer and soft drinks business, bringing refreshment and sociability to millions of
people all over the world who enjoy our drinks. The company does business in a way that improves
livelihoods and helps build communities.
SABMiller is passionate about brewing and has a long tradition of craftsmanship, making superb beer
from high quality natural ingredients. Our local beer experts brew more than 200 beers from which a
range of special regional and global brands have been carefully selected and nurtured.
SABMiller is a FTSE-20 company, with shares trading on the London Stock Exchange, and a
secondary listing on the Johannesburg Stock Exchange. The group employs around 69,000 people in
more than 80 countries, from Australia to Zambia, Colombia to the Czech Republic, and South Africa
to the USA. Every minute of every day, more than 140,000 bottles of SABMiller beer are sold around
the world.
In the year ended 31 March 2015, SABMiller sold 324 million hectolitres of lager, soft drinks and other
alcoholic beverages, generating group net producer revenue of US$26,288 million and EBITA of
US$6,367 million.
Enquiries
SABMiller plc
t: +44 20 7659 0100
Christina Mills Richard Farnsworth Gary Leibowitz
Director, Group Communications Group Media Relations Director,
and Reputation SABMiller plc Investor Engagement
SABMiller plc T +44 7734 776 317 SABMiller plc
T +44 20 7659 0105 T +44 20 7659 0119
Disclosure requirements of the Takeover Code (the “Code”)
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant
securities of an offeree company or of any securities exchange offeror (being any offeror other than
an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement of the offer period and, if
later, following the announcement in which any securities exchange offeror is first identified. An
Opening Position Disclosure must contain details of the person’s interests and short positions in, and
rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities
exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must
be made by no later than 3.30 pm (London time) on the 10th business day following the
commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the
10th business day following the announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities 3 of the offeree company or of a
securities exchange offeror prior to the deadline for making an Opening Position Disclosure must
instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class
of relevant securities of the offeree company or of any securities exchange offeror must make a
Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any
securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and
of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of
each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these
details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule
8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following
the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or
informal, to acquire or control an interest in relevant securities of an offeree company or a securities
exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and
Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position
Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the
Takeover Panel’s website at http://www.thetakeoverpanel.org.uk, including details of the number of
relevant securities in issue, when the offer period commenced and when any offeror was first
identified. If you are in any doubt as to whether you are required to make an Opening Position
Disclosure or a Dealing Disclosure, you should contact the Panel’s Market Surveillance Unit on +44
(0)20 7638 0129.
Publication on Website
A copy of this announcement will be made available on www.sabmiller.com by no later than 12 noon
(London time) on 11 February.
You may request a hard copy of this announcement by contacting SABMiller’s company secretary on
+44 (0) 1483 264000. You may also request that all future documents, announcements and
information to be sent to you in relation to the offer should be in hard copy form.
JSE Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Date: 10/02/2016 04:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
