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SABMiller PLC (SAB)

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Thursday 07 August, 2008

SABMiller PLC

SABMiller disposes of Colombi

RNS Number : 8518A
SABMiller PLC
07 August 2008
 





7 August 2008



SABMiller disposes of Colombian water business


SABMiller plc announces that its Colombian subsidiary Bavaria S.A. ('Bavaria') has agreed to dispose of its Agua Brisa bottled water business and assets ('Business'), which will be acquired jointly by Coca-Cola FEMSA and The Coca-Cola Company, for a consideration of USD92,000,000.  The disposal of Agua Brisa is subject to approval by the Colombian competition authorities and other customary pre-closing conditions, with closing of the transaction expected in late 2008 or early 2009.  The parties have also agreed customary arrangements regarding the performance of the Business between signing and closing.

In the past financial year, the Business sold more than 2.6 million hectolitres of Brisa in Colombia Agua Brisa presentations of still, sparkling and flavoured waters are produced in 13 plants across Colombia and are currently sold in over 230,000 outlets throughout the country.  The Brisa operations in Panama are excluded from the transaction.

Karl Lippert, president of Bavariacommented'The disposal of the water business will enable Bavaria to focus on its core strength, the brewing and distribution of beer and malted beverages. After closing, the transfer of assets and the commercial operation will be subject to a transition arrangement of several months, during which Bavaria will still be producing, selling and distributing Brisa.'

Bavaria is the largest beverage company in Colombia Its brands include: Águila, Águila Light, Póker, Costeña, Pilsen, Club Colombia, Brava,  Barena, Costeñita, Cola & Pola and Pony Malta.


Ends




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 Grolsch, 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 2008, the group reported US$3,639 million adjusted pre-tax profit and revenue of US$21,410 million. 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.sabmiller.com
or www.newscast.co.uk



Enquiries:






SABMiller plc 

Tel: +44 20 7659 0100




Sue Clark

Director of Corporate Affairs

Tel: +44 20 7659 0184




Gary Leibowitz

Senior Vice President, Investor Relations

Tel: +44 20 7659 0174




Nigel Fairbrass

Head of Media Relations

Tel: + 44 77 9989 4265





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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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