| Mon 21 Nov 2005, 9:00 | | SABMiller acquires remaining minority interest in |
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SABMiller acquires remaining minority interest in BevCo
SABMiller Plc
JSE Alpha code: SAB
Issuer Code: SOSAB
ISIN Code: GB0004835483
SABMILLER ACQUIRES REMAINING MINORITY INTEREST IN CENTRAL AMERICAN SUBSIDIARY -
BEVCO
London and Johannesburg, 21 November 2005. SABMiller plc announces that it has
acquired for cash the remaining 41.8% minority interest in its Central American
subsidiary, BevCo Limited ("BevCo") from existing shareholders. The book value
of the gross assets acquired was approximately US$464 million (net assets of
approximately US$298m).
BevCo is the leading brewer and soft drinks bottler in Honduras and El Salvador
whose key owned and licensed brands include Pilsener, Bahia, Golden Light, Regia
Extra, Miller Genuine Draft, Port Royal, Imperial, Salvavida and Coca Cola. In
2005 BevCo reported turnover of US$521m and EBITDA - net cash inflow from
operating activities, before working capital movements - of US$129m.
SABMiller has operated in Central America since November 2001 when it formed a
joint venture in the region.
Notes to editors:
SABMiller plc is one of the world"s largest brewers with brewing interests or
distribution agreements in over 60 countries across five continents. The group"s
brands include premium international beers such as Miller Genuine Draft, Peroni
Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market
leading local brands. Outside the USA, SABMiller plc is also one of the largest
bottlers of Coca-Cola products in the world.
In the year ended 31 March 2005, the group reported US$2,194 million pre-tax
profit and a turnover of US$14,543 million on a UK GAAP basis. SABMiller plc is
listed on the London and Johannesburg stock exchanges.
This announcement is available on the company website: www.sabmiller.com
High resolution images are available for the media to view and download free of
charge from: www.vismedia.co.uk
Enquiries:
SABMiller plc Tel: +44 20 7659 0100
Sue Clark Director of Corporate Affairs Tel: +44 20 7659 0184
Gary Leibowitz Vice President, Investor Relations Tel: +44 20 7659 0174
Nigel Fairbrass Head of Media Relations Tel: +44 7799 894265
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 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: 21/11/2005 09:00:03 AM Produced by the JSE SENS Department
