CHINA: SABMiller acquires 30% of Harbin
It was also announced that SABMiller and Harbin will sign a Strategic Investor Agreement (SIA) which will see SABMiller appoint at least two directors to the 11-member Harbin board. The agreement will also form a basis for sharing best practice and the transfer of expertise.
The two companies are to explore the potential for further co-operation in a number of areas including sales, distribution and procurement.
In order to acquire the stake, SABMiller has formed a new company, Gardwell, which will acquire the CEDF participation. Some members of the Harbin management team are to acquire a 5% in Gardwell.
The deal, which the companies said remained subject to certain conditions, is expected to contribute to SABMiller's earnings in the first full year.
Harbin is the fourth largest brewer in China, registering a pre-tax profit in the year to the end of December 2002 of HK$160m (US$21m) on sales of HK$1.12 billion (US$144m).
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
Fresh rumours surrounding a possible bid for Scottish & Newcastle saw the brewer's share price rise sharply yesterday (18 May) morning....
SABMiller has agreed to acquire the Slovakian brewer Topvar. Topvar is located in the city of Topoľčany in Western Slovakia and sold 569,000 hectolitres of beer in 2004....
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