UK/US: SAB unveils $5.6 billion acquisition of Miller

By Chris Brook-Carter | 30 May 2002

South African Breweries (SAB) is to buy Miller Brewing from owner Philip Morris to create the world's second largest beer group behind Anheuser Busch, for US$5.6 billion. The new concern will be called SABMiller and will have lager volume sin excess of 120m hectoliters, while for the 12 months to 31 March 2002 pro forma adjusted EBITDA for the combined entity is US$1.5 billion.

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South African Breweries (SAB) is to buy Miller Brewing from owner Philip Morris to create the world's second largest beer group behind Anheuser Busch, for US$5.6 billion. The new concern will be called SABMiller and will have lager volume sin excess of 120m hectoliters, while for the 12 months to 31 March 2002 pro forma adjusted EBITDA for the combined entity is US$1.5 billion.

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