| Fri 25 Nov 2011, 9:00 | | SAB - SABMiller - SABMiller confirms FIRB approval to acquire Foster`s Group Ltd |
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SAB
SOSAB
SAB - SABMiller - SABMiller confirms FIRB approval to acquire Foster`s Group Ltd
SABMiller
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
SABMiller confirms FIRB approval to acquire Foster`s Group Ltd
On 25 November 2011, the Australian Federal Treasurer on recommendation from
the Foreign Investment Review Board (FIRB), approved SABMiller`s acquisition
of Foster`s and the remaining 50% of Pacific Beverages.
SABMiller has provided certain undertakings to the Treasurer in relation to
the Foster`s acquisition as part of the FIRB process. Given the local nature
of Foster`s brewing business and its focus on Australian customers, these
undertakings are consistent with our current intentions for the business,
and will not affect our ability to integrate Foster`s and PacBev or to
compete effectively in Australia.
The Treasurer`s approval of the transaction marks the final regulatory condition
to be satisfied ahead of the shareholder vote at the upcoming scheme meeting
scheduled for 1 December 2011.
If approved by shareholders at the scheme meeting, 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
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 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 announcement 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
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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: 25/11/2011 09:00:01 Produced by the JSE SENS Department.
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