| Tue 13 Mar 2007, 9:00 | | SAB - SABMiller plc - Sabmiller Disposes Of Pepsi |
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SAB
SOSAB
SAB - SABMiller plc - Sabmiller Disposes Of Pepsi Franchise And Interest
In Hotel And Real Estate Development In Costa Rica
SABMiller PLC
JSEALPHA CODE : SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
Ref 05/2007
13 March 2007
SABMILLER DISPOSES OF PEPSI FRANCHISE AND INTEREST IN HOTEL AND REAL ESTATE
DEVELOPMENT IN COSTA RICA
SABMiller plc announces that its subsidiary, Cerveceria Nacional S.A., the
leading beer and soft drinks manufacturer and distributor in Panama, has
agreed to sell its Pepsi bottling operations in Costa Rica, consisting of
Embotelladora Centroamericana S.A. ("ECSA") and Distribuidora Centroamericana
de Bebidas DCB S.A. ("DCSA"), to Cerveceria Costa Rica S.A. ("CCR").
SABMiller also announces that it has completed the sale of its 42.5% interest
in Reserva Conchal, a hotel and real estate development in the north-west of
Costa Rica (the "Real Estate Development"), to Crosslake Commercial Inc.
("Crosslake"). Both CCR and Crosslake are subsidiaries of Florida Ice and
Farm Company, S.A. ("FIFCO"). The total consideration for the two
transactions, payable in cash, amounts to US$116 million. The disposal of the
Pepsi bottling operations, which is not subject to any regulatory approval,
is expected to close by the end of March 2007.
ECSA is the exclusive Pepsi Cola bottler in Costa Rica and distributes its
products through DCSA. FIFCO, which is listed on the Costa Rican stock
exchange, holds investments in beverages, tourism and services in Costa Rica
and Central America.
SABMiller acquired the Pepsi bottling operations and its interest in the Real
Estate Development as part of its Latin American transaction which completed
on 12 October 2005.
Ends
Notes to editors:
About SABMiller plc
SABMiller plc is one of the world`s largest brewers with brewing interests or
distribution agreements in over 60 countries across six 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 2006, the group reported US$15,307 million in
revenue and profit before tax of $2,453 million. SABMiller plc is listed on
the London and Johannesburg stock exchanges.
This announcement can be found on www.sabmiller.com
Enquiries
Tel: +44 20 7659 0100
Sue Clark
Director of Corporate Affairs
Tel: +44 20 7659 0184
Rachel Kentleton
Senior Manager, Investor Relations
Tel: +44 20 7659 0113
Nigel Fairbrass
Head of Media Relations
Tel: +44 20 7659 0105
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: 13/03/2007 09:00:07 Produced by the JSE SENS Department.
