South African Breweries - Acquires Controlling Sta
UGANDA
London, 29 June 2001: South African Breweries plc (SAB), one of the world's
leading brewers with operations in 22 countries, today announces it has
acquired, through its subsidiary company SAB International Africa B.V, a
majority interest in Nile Breweries of Uganda from the Madhvani group of
companies. This acquisition takes SAB's stake in Nile Breweries to 93.1%,
with the Madhvani family still having an interest in the business.
"To date we have been managing Nile Breweries on behalf of the shareholders
and this is therefore a logical move for us in this region", said Graham
Mackay, Chief Executive of SAB plc. "This acquisition represents another
important step for SAB in Africa and illustrates our commitment to the
continent."
Nile Breweries was founded in 1951 and presently has a capacity of 700,000
hectolitres and its leading brand is Nile Special Lager. The Ugandan beer
market grew by 52% between 1997 and 2001 and at the same time has seen
increased competition and promotional activity over the last year.
Notes to editors:
South African Breweries is the world's leading brewer in emerging markets,
with major brewing and distribution operations in Africa, Central and
Eastern Europe and Asia. It is the world's fifth largest brewer overall by
volume with 82 breweries in 22 countries and over 34,000 employees. In the
year March 31 2001 SAB generated US$731 million pre-tax profit from turnover
of US$4.184 billion. The company is listed on both the London and the
Johannesburg stock exchanges.
For further information:
Nick Chaloner, Director of Communications,
SAB plc
+ 44 (0) 20 7659 0119
Mob:+ 44 (0) 7880 502 755
Anna Miller Salzman , Head of Investor Relations,
SAB plc
+ 44 (0) 20 7659 0106
Mob: + 44 (0) 7973 837 070
Salome Brown, Corporate Communications,
SAB plc
+ 27 (0) 11 407 1700
This announcement is available on the SAB website at www.sabplc.com
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