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SAB - SABMiller plc - Organisational changes in SABMiller`s African
operations
JSEALPHA CODE: SAB
ISSUER CODE: SASAB
ISIN CODE: GB0004835483
9 January 2012
Organisational changes in SABMiller`s African operations
SABMiller plc today announces the implementation of a number of
organisational changes in its African operations with effect from 1 January
2012, as part of SABMiller`s strategic alliance agreement with the Castel
Group.
The changes involve the combination of the operational management of the
Castel and SABMiller businesses in Nigeria and Angola, with the Nigerian
businesses being managed in future by SABMiller, and the Angolan businesses
being managed by Castel. Amendments have also been agreed to the terms of
the strategic alliance agreement to provide for improved sharing of best
practice and technical expertise, and a more precise methodology for the
existing mutual pre-emptive rights over the groups` respective beverage
operations in Africa (excluding South Africa and Namibia).
The existing strategic alliance agreement, pursuant to which SABMiller has a
20% shareholding in Castel`s other African beverage interests and Castel has
a 38% shareholding in SABMiller`s principal African holding company, is
otherwise unchanged.
Commenting on the changes, Graham Mackay, Chief Executive of SABMiller said:
"Our relationship with the Castel Group has gone from strength to strength
over the decade that the strategic alliance has been in place. We believe
that these operational changes will benefit our local businesses, our
minority partners, and our customers and consumers in both Angola and
Nigeria, and demonstrate both groups` long-term commitment to the alliance."
Pierre Castel, Executive Chairman of the Castel Group, said:
"After ten years of alliance, it was deemed appropriate to review and
upgrade our partnership with a stronger focus on synergies."
ENDS
Notes:
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 global brands such as Pilsner Urquell, Peroni Nastro
Azzurro, Miller Genuine Draft, and Grolsch, as well as leading local brands
such as Aguila, Castle, Miller Lite, Snow, Tyskie and Victoria Bitter.
SABMiller is also one of the world`s largest bottlers of Coca-Cola products.
In the year ended 31 March 2011, the group reported US$4,491 million
adjusted pre-tax profit and group revenue of US$28,311 million. SABMiller
plc is listed on the London and Johannesburg stock exchanges.
About SABMiller`s African operations and the Castel Group
SABMiller and Castel are two of the leading brewers in Africa with strong
and complementary market positions on the continent.
SABMiller operates in 15 countries in Africa: Botswana, Comores, Ethiopia,
Ghana, Kenya, Lesotho, Malawi, Mayotte, Mozambique, Nigeria, South Sudan,
Swaziland, Tanzania, Uganda and Zambia.
The Castel Group has beer, carbonated soft drink and mineral water
interests, primarily in west and central Africa, and the Indian Ocean. Its
operations cover Algeria, Angola, Benin, Burkina Faso, Cameroon, Central
African Republic, Chad, Cote d`Ivoire, Democratic Republic of Congo,
Equatorial Guinea, Ethiopia, Gabon, Gambia, Guinea, Madagascar, Mali,
Mauritius, Morocco, Niger, Senegal, Togo and Tunisia.
Values of the gross assets involved
As at 31 December 2010 the value of the gross assets of Castel`s Nigerian
businesses was US$75 million respectively. As at 30 September 2011 the
value of the gross assets of SABMiller`s Angolan businesses was US$918
million.
Financial impact
As a result of the changes, the groups will share at the strategic alliance
level, the aggregate profits and cash flows of their operations in Nigeria
and Angola based primarily on the relative contributions of their businesses
in each country. In Nigeria the businesses are of approximately equal size.
In Angola, the Castel business is approximately three times as large as
SABMiller`s operations. Accordingly, the transaction is expected to have an
immaterial impact on SABMiller pro forma earnings per share.
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 the News and Media section of www.sabmiller.com or
www.newscast.co.uk
Contact
SABMiller Tel: +44 20 7659 0100
plc
Sue Clark Director of Corporate Tel: +44 20 7659 0184
Affairs
Gary Senior Vice President, Tel: +44 20 7659 0174
Leibowitz Investor Relations
Nigel Head of Media Relations Tel: +44 7799 894265
Fairbrass
This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire ordinary shares in the capital of
SABMiller plc (the "company") or any other securities of the company in any
jurisdiction or an inducement to enter into investment activity.
This announcement is intended to provide information to shareholders. It
should not be relied upon by any other party or for any other purpose. This
announcement includes `forward-looking statements` with respect to certain
of SABMiller plc`s plans, current goals and expectations relating to its
future financial condition, performance and results. These statements
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. Such 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. Such 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 herein
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. The past business and financial performance of SABMiller
plc is not to be relied on as an indication of its future performance.
Date: 09/01/2012 12:00:02 Supplied by www.sharenet.co.za
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