UK: SAB completes Miller deal
South African Breweries (SAB) announced today that, following the approval of its shareholders at the EGM on 1 July and the receipt of satisfactory regulatory clearances, its acquisition of Miller Brewing from Philip Morris Companies has been completed.
In a statement the company said: "Miller has now become a wholly owned subsidiary of SAB, and SAB has issued 430m new shares to Philip Morris, consisting of 234,948770 ordinary shares, which will be listed today and 195,051,230 unlisted, low voting participating shares."
Graham Mackay, chief executive of the newly formed SABMiller said: "As the world's second largest brewer by volume, SABMiller is a leader in the global brewing industry and is attractively positioned for further market developments. We intend to achieve profitable growth in the global beer market."
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....
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....
SABMiller has had its share recommendation upped....
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