UK: SAB completes Miller deal

By just-drinks.com editorial team | 9 July 2002

South African Breweries (SAB) announced today that, following the approval of its shareholders at the EGM on 1 July and the receipt of satisfactory regulatory clearances, its acquisition of Miller Brewing from Philip Morris Companies has been completed. In a statement the company said: "Miller has now become a wholly owned subsidiary of SAB, and SAB has issued 430m new shares to Philip Morris, consisting of 234,948770 ordinary shares, which will be listed today and 195,051,230 unlisted, low voting participating shares."

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South African Breweries (SAB) announced today that, following the approval of its shareholders at the EGM on 1 July and the receipt of satisfactory regulatory clearances, its acquisition of Miller Brewing from Philip Morris Companies has been completed. In a statement the company said: "Miller has now become a wholly owned subsidiary of SAB, and SAB has issued 430m new shares to Philip Morris, consisting of 234,948770 ordinary shares, which will be listed today and 195,051,230 unlisted, low voting participating shares."

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