| Thu 7 Aug 2008, 13:00 | | SAB - SABMiller Plc - Disposes Of Colombian Water Business |
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SAB
SOSAB
SAB - SABMiller Plc - Disposes Of Colombian Water Business
SABMiller Plc
JSEALPHA CODE: SAB
ISSUER CODE SOSAB
ISIN CODE GB0004835483
7 August 2008
SABMiller disposes of Colombian water business
SABMiller plc announces that its Colombian subsidiary Bavaria S.A.
("Bavaria") has agreed to dispose of its Agua Brisa bottled water business
and assets ("Business"), which will be acquired jointly by Coca-Cola FEMSA
and The Coca-Cola Company, for a consideration of USD92,000,000. The disposal
of Agua Brisa is subject to approval by the Colombian competition authorities
and other customary pre-closing conditions, with closing of the transaction
expected in late 2008 or early 2009. The parties have also agreed customary
arrangements regarding the performance of the Business between signing and
closing.
In the past financial year, the Business sold more than 2.6 million
hectolitres of Brisa in Colombia. Agua Brisa presentations of still,
sparkling and flavoured waters are produced in 13 plants across Colombia and
are currently sold in over 230,000 outlets throughout the country. The Brisa
operations in Panama are excluded from the transaction.
Karl Lippert, president of Bavaria, commented: "The disposal of the water
business will enable Bavaria to focus on its core strength, the brewing and
distribution of beer and malted beverages. After closing, the transfer of
assets and the commercial operation will be subject to a transition
arrangement of several months, during which Bavaria will still be producing,
selling and distributing Brisa."
Bavaria is the largest beverage company in Colombia. Its brands include:
Aguila, Aguila Light, Poker, Costena, Pilsen, Club Colombia, Brava, Barena,
Costenita, Cola & Pola and Pony Malta.
Ends
About SABMiller plc
SABMiller plc is one of the world`s largest brewers with brewing interests or
distribution agreements in over 60 countries across six continents. The
group`s brands include premium international beers such as Grolsch, Miller
Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as an
exceptional range of market leading local brands. Outside the USA, SABMiller
plc is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2008, the group reported US$3,639 million adjusted
pre-tax profit and revenue of US$21,410 million. SABMiller plc is listed on
the London and Johannesburg stock exchanges.
This announcement is available on the company website: www.sabmiller.com
High resolution images are available for the media to view and download free
of charge from www.sabmiller.com or www.newscast.co.uk
Date: 07/08/2008 13:00:04 Produced by the JSE SENS Department.
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