UK/US: SAB to pay US$160m if Miller deal falls through
South African Breweries will end up paying a breakup fee of US$160 million if it backs out of its US$5.6 billion deal to buy Philip Morris Cos. Inc.'s Miller Brewing beer unit, Philip Morris said on Tuesday. In a regulatory filing, Philip Morris, the world's No. 1 tobacco company, said it would be entitled to the breakup fee if SAB did not obtain shareholder approval for the deal by July 8, 2002, or if the transaction were not completed by July 31, 2003.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- How to turn a domestic spirit into a global brand
- Whatever happened to binge Britain? - comment
- This week in spirits & wine
- Mahou San Miguel - just the Facts
- Britvic's FY Performance by Region - Focus
- Captain Morgan distillation trial queried by USVI
- Sazerac sues Brown-Forman over Tennessee Fire
- Craft, imports near 50% share in US on-trade
- Beam Suntory's Laphroaig Brodir - NPD
- Diageo sells off United Spirits' Bouvet Ladubay
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts