S AFRICA: SABMiller in black empowerment deal
SAB Ltd, the South African unit of brewing giant SABMiller, has sold a stake in a closures company to a group supporting disadvantaged black South African citizens.
SAB Ltd today (13 April) said it had sold a 40% stake in Coleus Packaging, South Africa's biggest producer of metal bottle closures, for around ZAR30m to Nokusa Consortium, a black empowerment group.
The brewer bought Coleus in 2003 and committed itself to selling a 40% stake in a black empowerment deal. The agreement means Nokusa will be involved in strategic decision-making at Coleus and have the right to appoint two directors to the company's five-man board.
Coleus produces around 4.9bn bottle tops a year for the brewing and bottling industries in Southern Africa. In the year to 31 March 2005, the company reported a turnover of around ZAR132m (US$21.5m).
Moss Hadebe, chairman of the Nokusa Consortium, said: "We welcome our partnership with SAB and believe that our input into operations and strategy formulation will benefit all parties. This direct strategic and operational involvement sets a welcome trend in black economic empowerment transactions."
Tony van Kralingen, SAB Ltd MD, added: "Nokusa members are highly skilled professionals who have a diverse range of skills and expertise in the FMCG, packaging and manufacturing industries, as well as experience in operating in the rest of Africa. They will be an excellent partner for the business and we look forward to working with them."
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...
The consolidation of the global brewing industry is set to continue, according to SABMiller....
SABMiller is to begin buying into Slovakian brewery Topvar, according to local reports....
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....
A price war in the US beer market is being widely predicted as executives at leading brewer, Anheuser-Busch, promised investors that it would do "whatever is necessary" to grow its market share and in...
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...
Bavaria has authorised a five-year syndicated loan of up to US$250m....
- Is A-B InBev/SABMiller 'Mega-Merger' Off?
- Sustainability: What Craft Teaches Multi-Nationals
- Scotch Whisky Top 20 Export Markets 2014
- Pernod takes positives from China Cognac bounce
- Ethiopia competition to remain "intense" - Diageo
- Heineken to cut jobs in global shake-up
- Bacardi bags a Bourbon with Angel's Envy buy
- Bacardi Brown-Forman here to stay
- Moet Hennessy sells Scotch Malt Whisky Society
- Carlsberg takes on Stella Artois in new campaign
- Global rum insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Heineken N.V. - Strategy and SWOT Report
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Champagne: Less Than Bubbly