| Fri 18 Nov 2011, 12:00 | | SAB - SABMiller plc - SABMiller confirms Australian Tax Office ruling on |
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SAB
SOSAB
SAB - SABMiller plc - SABMiller confirms Australian Tax Office ruling on
recommended proposal to acquire Foster`s Group Ltd
SABMiller plc
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
SABMiller confirms Australian Tax Office ruling on recommended proposal to
acquire Foster`s Group Ltd
As part of SABMiller`s proposed acquisition of Foster`s, SABMiller and
Foster`s had agreed that Foster`s could pay its shareholders a return of
capital of A$0.30 per share prior to the closing of the acquisition,
subject to obtaining an appropriate ruling from the ATO.
Foster`s has not been able to obtain the ruling from the ATO. Accordingly,
as set out in the Implementation Agreement, SABMiller`s offer price will
increase from A$5.10 per share to A$5.40 per share to take account of this
development.
This amendment does not increase the acquisition enterprise value and does
not change the total cash received by each Foster`s shareholder.
If approved by shareholders at the relevant scheme meetings later this
year, SABMiller continues to expect the acquisition to be completed before
the end of 2011.
- ends -
Notes to editors
SABMiller plc is one of the world`s largest brewers with brewing interests
and distribution agreements across six continents. The group`s wide
portfolio includes global brands such as Pilsner Urquell, Peroni Nastro
Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands
such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also
one of the world`s largest bottlers of Coca-Cola products.
In the year ended 31 March 2011, the group reported US$4,491 million
adjusted pre-tax profit and group revenue of US$28,311 million. SABMiller
plc is listed on the London and Johannesburg stock exchanges.
High resolution images and broadcast footage are available for the media to
view and download free of charge from
the News and media centre on www.sabmiller.com
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.
Media enquiries: SABMiller plc t: +44 20 7659 0100
Nigel Fairbrass, Head of media relations, SABMiller plc, T: +44 7799 894
265
Beth Longcroft, Business media relations manager, SABMiller plc, t: +44
7425 621 030
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: 18/11/2011 12:00:05 Produced by the JSE SENS Department.
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