| Fri 20 Mar 2009, 10:00 | | SAB - SABMiller Plc announces acquisition of residual interest in SABMiller |
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SAB
SOSAB
SAB - SABMiller Plc announces acquisition of residual interest in SABMiller
Vietnam JV
SABMiller Plc
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
20 March 2009
SABMiller plc announces acquisition of residual interest in SABMiller Vietnam
JV
SABMiller plc today announces that it has signed an agreement with its JV
partner, Vietnam Dairy Products Joint Stock Company ("Vinamilk"), to acquire
Vinamilk`s 50% interest in SABMiller Vietnam JV Company Limited ("the
Company"). Conditions to the transaction have been fulfilled and SABMiller
Asia BV is now the sole shareholder in the Company.
The Company`s assets which are the subject of the transaction totalled
US$31.8 million at the fiscal year end, 31st December 2008.
The Company`s brewery is located in Binh Duong province and supplies the key
markets of Ho Chi Minh City, Mekong Delta and Da Nang through an expanding
distribution network. The beer industry in Vietnam is still relatively small
with total volumes of 18.5 mhl but is expected to grow significantly.
Current per capita consumption is modest and is estimated to be 21 litres per
annum.
Ari Mervis, Managing Director of SABMiller Asia BV, said: "Having acquired
Vinamilk`s interest in the Company, we look forward to developing and
expanding our interests further in the growing and attractive Vietnamese beer
market. Partnering with Vinamilk at the outset has benefited SABMiller
significantly as a result of the local insights and knowledge shared with us.
This transaction will allow us increased flexibility to implement various
business initiatives in Vietnam and the Company will complement our existing
beer businesses in the broader Asian region."
Mai Kieu Lien, General Director of Vinamilk responded: "Vietnam offers
exciting prospects. We have shared a mutually beneficial partnership with
SABMiller in Vietnam`s developing beer industry, but in the current economic
environment we would like to restructure our business operation by focussing
on our core business areas in order to enhance our position of strength and
maximize the interests of Vinamilk`s shareholders."
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
Enquiries:
SABMiller plc Tel:+44207659 0100
Sue Clark Director of Corporate Affairs Tel:+44207659 0184
Gary Leibowitz Senior Vice President, Tel:+44207659 0174
Investor Relations
Nigel Fairbrass Head of Media Relations Tel:+44207659 0105
This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
"Company") or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.
This document includes "forward-looking statements". These statements may
contain the words "anticipate", "believe", "intend", "estimate", "expect" and
words of similar meaning. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company`s financial position, business strategy, plans and
objectives of management for future operations (including development plans
and objectives relating to the Company`s products and services) are forward-
looking statements. These forward-looking statements involve known and
unknown risks, uncertainties and other important factors that could cause the
actual results, performance or achievements of the Company to be materially
different from future results, performance or achievements expressed or
implied by such forward-looking statements. These forward-looking statements
are based on numerous assumptions regarding the Company`s present and future
business strategies and the environment in which the Company will operate in
the future. These forward-looking statements speak only as at the date of
this announcement. The Company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any forward-looking
statements contained in this announcement to reflect any change in the
Company`s expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based. Any
information contained in this announcement on the price at which the
Company`s securities have been bought or sold in the past, or on the yield on
such securities, should not be relied upon as a guide to future performance.
Date: 20/03/2009 10:00:02 Produced by the JSE SENS Department.
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