21 July 2004
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Possible offer for Amalgamated Beverage Industries Limited
London and Johannesburg, 21 July 2004. SABMiller plc ('SABMiller') and
Amalgamated Beverage Industries Limited ('ABI'), the publicly listed South
African Coca-Cola bottler in which SABMiller has a 73.5% holding, have today
issued a joint announcement on the JSE Securities Exchange South Africa.
The announcement stated that SABMiller is currently investigating proposals
which may lead to it making an offer to acquire all the ABI shares that it does
not already own for a cash consideration of approximately R78.00 per ABI share.
The full text of the announcement is set out below:
'The board of directors of ABI has been informed by SABMiller plc that
SABMiller is currently investigating proposals which may lead to it making
an offer to acquire all of the ABI shares that it does not already own for
a cash consideration of approximately R78.00 per ABI share.
'The board of directors of ABI has formed a separate independent
sub-committee to ensure appropriate governance throughout any ensuing
processes and to consider any possible offer that may be forthcoming from
SABMiller. The board sub-committee is also in the process of appointing
independent advisors to assist it in its tasks and to provide it with
external advice as may be required in terms of the Securities Regulation
Code and by the Rules of the Securities Regulation Panel.
'Shareholders of ABI are therefore advised to exercise caution when dealing
in their shares until further announcements are made.'
21 July 2004
For further information:
Head of corporate communications (Finance) Tel: +44 20 7659 0105
Vice-President Investor Relations Tel. +44 20 7659 0119
Notes to editors:
SABMiller plc is one of the world's largest brewers, with 2003/04 lager sales
volumes in excess of 137 million hectolitres. It has a brewing presence in over
40 countries across four continents and a portfolio of strong brands and leading
market shares in many of the countries in which it has brewing operations.
Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola
products in the world.
In the year ended 31 March 2004, the group generated US$1,391million pre-tax
profit from a turnover of US$12,645 million. SABMiller plc is listed on the
London and Johannesburg stock exchanges.
This announcement does not constitute an offer to sell or the solicitation of an
offer to purchase or subscribe for any securities in any jurisdiction.
The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in any such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about, and observe, such restrictions.
This announcement contains statements about Amalgamated Beverages Industries
Limited ('ABI'), SABMiller plc ('SABMiller') and members of the SABMiller group
(together with SABMiller, the 'SABMiller Group') that are or may be forward
looking statements. All statements other than statements of historical facts
included in this announcement may be forward looking statements. Any statements
preceded or followed by or that include the words 'targets', 'plans',
'believes', 'expects', 'aims', 'intends', 'will', 'may', 'anticipates' or
similar expressions or the negative thereof are forward looking statements.
Forward looking statements include statements relating to the following: (i)
future capital expenditures, expenses, revenues, economic performance, financial
condition, dividend policy, losses and future prospects; (ii) business and
management strategies and the expansion and growth of ABI's or the SABMiller
Group's operations; and (iii) the effects of government regulation on ABI's or
the SABMiller Group's business.
These forward looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of any such person, or industry results, to be materially different
from any results, performance or achievements expressed or implied by such
forward looking statements. These forward looking statements are based on
numerous assumptions regarding the present and future business strategies of
such persons and the environment in which each will operate in the future. All
subsequent oral or written forward looking statements attributable to ABI or any
member of the SABMiller Group or any persons acting on their behalf are
expressly qualified in their entirety by the cautionary statement above. ABI
and the SABMiller Group expressly disclaim any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements contained
herein to reflect any change in their expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
This information is provided by RNS
The company news service from the London Stock Exchange