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SOSAB
SABMILLER ANNOUNCES CLOSING OF STRATEGIC INVESTMENT IN HARBIN BREWERY GROUP
SABMILLER Plc
JSEALPHA CODE: SAB
ISSUER CODE SOSAB
ISIN CODE GB0004835483
SABMILLER ANNOUNCES CLOSING OF STRATEGIC INVESTMENT IN HARBIN BREWERY GROUP
London and Johannesburg, 29 July 2003. SABMiller plc ("SABMiller") announces
the closing of its strategic investment in Harbin Brewery Group Limited
("Harbin"). SABMiller has acquired a 29.6% stake in Harbin from China
Enterprise Development Fund ("CEDF"), for HK$675 million (approximately US$87
million) in cash, through a new subsidiary Gardwell Limited. As part of the
agreement, SABMiller has formally entered into a Strategic Investor Agreement to
provide the framework for the sharing of best practices and the transfer of
relevant expertise. The closing of the transaction consolidates SABMiller"s
status as the leading international brewer in China.
ENDS
For further information:
Sue Clark
Director of Corporate Affairs +44
(0) 20 7659 0191 Mobile: +44 (0) 7850 285 471
SABMiller plc
Anna Miller Salzman
Head of Investor Relations +44 (0) 20 7659 0106
SABMiller plc Mobile: +44 (0) 7973 837 070
Ciaran Baker +44 (0) 20 7659 0120
Head of Corporate Communications Mobile: +44 (0) 7979 954493
SABMiller plc
SABMiller plc
SABMiller plc is one of the world"s leading brewers, with major brewing and
distribution operations in America, Africa, Europe and Asia. It is the world"s
second largest brewer by volume with 122 breweries in over 40 countries and some
45,000 employees. In the year ending 31 March 2003, SABMiller generated US$770
million pre-tax profit from turnover of US$9.1 billion. The company is listed
on both the London and the Johannesburg stock exchanges. SABMiller, through its
joint venture partner, China Resources Breweries, operates 30 breweries in 9
provinces in China with total volumes of over 27 million hectolitres in the year
ended 31 March 2003. It entered the China market in 1994 and is one of the few
profitable foreign brewers operating in China.
Harbin Brewery Group Limited
Following the acquisition of three breweries during 2002 Harbin now has an
installed capacity of approximately 12.5 million hectolitres and pro forma sales
volumes of 10.4 million hectolitres. The company, through the Harbin brand, is a
leader in the North-Eastern China market in terms of market share and
profitability.
Notes to editors
1. The Chinese beer market is one of the fastest growing markets in the world.
Consumption is growing at over 6% per annum and as a result the Chinese market
is now believed to be the largest beer market in the world by volume.
Date: 29/07/2003 09:00:05 AM Produced by the JSE SENS Department
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