South African Breweries Plc - Sa Breweries Buys In
SOUTH AFRICAN BREWERIES BUYS INTO COCA-COLA IN ANGOLA
London/Johannesburg. Thursday, 1 November 2001. South African Breweries
International (Africa) B.V. ("SABI (Africa)") has announced that it has
signed an agreement with The Coca-Cola Export Corporation ("TCCEC") to
purchase a 45% shareholding in Coca-Cola Bottling Luanda S.A.R.L.("CCBL").
The US$ 19.1 million investment, along with the existing management
agreement, gives SABI (Africa) an effective controlling stake in The Coca-
Cola bottling business in Angola. TCCEC retains a 10% share and the Angolan
government 45%.
CCBL was formed in 1997 as a joint venture between the State of Angola (45%
shareholding) and The Coca-Cola Company (55% shareholding), to provide
locally bottled Coca-Cola products to Angola. The sale of the shares is in
line with an agreement between The Coca-Cola Company and the State of Angola
to increase local participation in the Coca-Cola business.
SABI (Africa) has managed CCBL since early 1999 and led the construction and
commissioning of the new soft-drink plant at Bom Jesus, outside Luanda. CCBL
produces the full range of Coke products, including Fanta and Sprite. Its
installed capacity is 10 million unit cases and current sales exceed 8
million unit cases.
Andre Parker, managing director of South African Breweries International
(SABI) said: "We are extremely pleased to have secured this stake in CCBL
from The Coca-Cola Company. Today's deal is an endorsement of our ability to
successfully manage and operate businesses in Africa and is in line with our
strategy of seeking synergies through the development of our Coca-Cola
franchises. It also consolidates our existing strong relationship with both
The Coca-Cola Company and the Government of Angola".
Ends
Notes to editors
SABI is part of South African Breweries plc (SAB), the world's leading
brewer in developing markets, with major brewing and distribution operations
in Africa, Central and Eastern Europe, and Asia. SAB is the world's fifth
largest brewer overall by volume with 86 breweries in 22 countries and over
31,000 employees.
In the year to March 31 2001 SAB generated US$ 646 million pretax profit
from a turnover of US$ 4.184 billion. SAB is listed on both the London and
the Johannesburg stock exchanges.
For further information:
Mitch Ramsay, Communications Manager, +27 (0) 11 407 1822
SABI Mob: +27 (0) 836 310 08
Ciaran Baker, Head of Communications +44 (0) 20 7659 120
SAB plc Mob. +44 (0) 7979 954 93
Anna Miller Salzman, Head of Investor Relations
SAB plc +44 (0) 20 7659 0106
Mob: +44 (0) 7973 837 070
This announcement is available on the SAB website at www.sabplc.com
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
