Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address


  Print      Mail a friend       Annual reports

Thursday 18 March, 2004


Joint Ventures with Castel

18 March 2004

18 March 2004

SABMiller announces new joint ventures with Castel Group in Algeria and Morocco

SABMiller plc today announces the establishment of two separate joint ventures
with its pan-African partner the Castel Group ('Castel') in the French speaking
territories of Algeria and Morocco (collectively 'the transaction').

The Algerian joint venture has been effected by SABMiller acquiring a 25% direct
interest in two Castel carbonated soft drink plants and one brewery in Algeria,
together with a 15.78% stake in a second brewery, in which Castel is a majority
shareholder.  The Moroccan joint venture has been effected by SABMiller
acquiring a 25% interest in a holding company which has controlling interests in
three breweries, a malting plant and a wet depot in Morocco.  As a consequence
of these investments by SABMiller and its existing 20% stake in Castel's
operations in Africa, these joint ventures are effectively owned 60% by Castel
and 40% by SABMiller.

The day-to-day operations of the joint ventures will be managed by Castel, which
has a significant presence and expertise in French speaking Africa.  The parties
will co-operate in a number of important areas such as procurement and new
technical initiatives, whilst drawing on the resources of the respective groups.

In the year ended 31 December 2003 the joint venture businesses included in the
transaction generated sales of US$86 million, comprising 1.2 million hectolitres
of lager beer and 900 000 hectolitres of carbonated soft drink.

SABMiller's direct investment in the joint venture businesses comprises US$25
million in the Algerian joint venture and US$21 million in the Moroccan joint
venture.  The initial impact of the transaction on SABMiller's earnings and
gearing is expected to be neutral.

Graham Mackay, Chief Executive of SABMiller, said: 'We are delighted to have the
opportunity of cementing our strong relationship with the Castel Group of France
through the establishment of the Algerian and Moroccan joint ventures.  The
pan-African strategic alliance between our groups has progressed from strength
to strength, and the underlying operations have performed admirably in often
challenging conditions.'

Pierre Castel, Chairman of the Castel Group, commented: 'It was always the
parties' intention to enter into joint ventures where new opportunities could be
exploited, and certain opportunities were earmarked at the time the strategic
alliance was formed.  We are pleased that SABMiller will join us in the
development of these businesses which have significant potential, and also look
forward to other joint ventures with SABMiller in Africa.'


Notes to Editors

Algeria - Carbonated Soft Drinks

In Algeria the joint venture companies producing and distributing carbonated
soft drink are Societe de Boissons de l'Ouest, Algerien ('SBOA'), situated in
Oran, and Skikda Bottling Company ('SBC'), situated in Skikda.

The size of the carbonated soft drink market in Algeria is approximately 5
million hectolitres per annum, 2 million hectolitres of which is supplied by
smaller bottlers.  The joint venture produces and distributes 'Coke', 'Fanta', 
'Sprite' and 'Fresca' and commands a 31% market share among the larger
distributors.  The two joint venture carbonated soft drink companies have a
capacity of approximately 2 million hectolitres per annum.

Algeria - Beer

The joint venture companies brewing and distributing beer are Societe des
Nouvelles Brasseries ('SNB'), situated in Oran, and Algerienne de Bavaroise 
('Albav'), situated in Wilaya Taref.

The size of the beer market in Algeria is approximately 900 000 hectolitres per
annum.  The joint venture produces and distributes the brands 'Shems', '
Bavaroise', 'Beaufort', 'Castel Beer' and '33 Export' and already commands a 29%
market share.  The two joint venture brewing companies together have the
capacity to brew 500 000 hectolitres per annum which could be increased by 200
000 hectolitres per annum with minimal additional investment.

Currently, there is low per capita consumption across both the carbonated soft
drink and the beer industries with both industries facing good growth prospects.

The Algerian joint venture controls the entire issued share capitals of SBOA,
SBC and SNB and 63% of the issued share capital of Albav.

Morocco - Beer

The joint venture company in Morocco is Marocaine d'Investissements et de
Services ('MDI'), situated in Casablanca.  MDI owns a 54% interest in Societe
des Brasseries du Maroc ('SBM') a company listed on the Casablanca Stock
Exchange which brews and distributes beer under the following brands 'Castel',
'33 Export', 'La Gazelle', 'Special Flag', 'Stork', 'Flag Pils', 'Casablanca',
'Kania' and a non-alcoholic beer 'Crown'.  SBM also brews approximately 100 000
hectolitres of Heineken and Amstel under licence.

The size of the beer market in Morocco is approximately 1 000 000 hectolitres
per annum with reasonable growth prospects over the next five years.   The joint
venture commands a 95% market share and has a capacity to brew approximately 1.3
million hectolitres per annum.

SABMiller plc

SABMiller plc is one of the world's largest brewers, with 2002/03 lager volumes
in excess of 115 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 2003, the group generated US$770 million pre-tax
profit from a turnover of US$9,112 million.  SABMiller plc is listed on the
London and Johannesburg stock exchanges.

This announcement is available on the company website.


Gary Leibowitz

VP of Investor Relations     Tel: +44 (0) 20 7659 0119

SABMiller plc                Mob: +44 (0) 7717 428540

Nigel Fairbrass

Head of Corporate Communications (Finance) Tel: +44 (0) 20 7659 0105

SABMiller plc                              Mob: +44 (0) 7799 894265

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

a d v e r t i s e m e n t