UK: SABMiller declares offer for Grolsch unconditional

By | 6 February 2008

SABMiller has declared its public offer for all issued and outstanding shares in Grolsch as unconditional, adding that "all offer conditions have been satisfied or waived".

The UK-based brewer said today that it holds or has acceptances for 94.65% of shares in Grolsch after its EUR48.25 (US$70.57) per share bid, in a deal valuing the Dutch brewer at EUR816m.

Shares tendered under the offer represent 79.89% of the issued and outstanding capital of Grolsch and, based on the offer price, have an aggregate value of over EUR652m. SABMiller already owned 14.76% at the time the bid closed.

Settlement of the offer is expected to take place on 12 February, the company added.

The news follows the release of industry figures placing SABMiller ahead of InBev as the world's biggest brewer. The figures, by researcher Plato Logic outline SABmiller's growth having stemmed from the success of its Snow Beer brand in China, combined with the Grolsch acquisition.

SABMiller declined to comment on the Plato Logic figures when contacted by just-drinks today.

Sectors: Beer & cider

Companies: Grolsch, SABMiller, InBev

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