HONG KONG: SABMiller plays down Harbin - report
SABMiller is not pinning all its hopes for growth in China on Harbin Brewery, according to press reports. Speaking to the Financial Times earlier this week, SABMiller's managing director for Asia and Africa Andre Parker said that the company's strategy of acquiring regional Chinese brewers through its China Resources Breweries venture will not be affected by the outcome of its bid for Harbin.
"We are pretty much on track with or without Harbin.," Parker told the newspaper. "Harbin would be great . .. but it's not the end of the world for us. There are plenty of opportunities (in China)," he added.
The Financial Times quoted Parker as saying that, despite Harbin's rejection of the company's takeover offer, SABMiller would strive to retain the Chinese group's existing management if it succeeded in acquiring the company.
Yesterday, China Resources Breweries announced that it has acquired a 90% interest in two breweries in Anhui Province from Anhui Longjin Group.
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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