13th Mar 2007 07:01
SABMiller PLC13 March 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., theleading beer and soft drinks manufacturer and distributor in Panama, has agreedto sell its Pepsi bottling operations in Costa Rica, consisting of EmbotelladoraCentroamericana S.A. ("ECSA") and Distribuidora Centroamericana de Bebidas DCBS.A. ("DCSA"), to Cerveceria Costa Rica S.A. ("CCR"). SABMiller also announcesthat it has completed the sale of its 42.5% interest in Reserva Conchal, a hoteland real estate development in the north-west of Costa Rica (the "Real EstateDevelopment"), to Crosslake Commercial Inc. ("Crosslake"). Both CCR andCrosslake are subsidiaries of Florida Ice and Farm Company, S.A. ("FIFCO"). Thetotal consideration for the two transactions, payable in cash, amounts to US$116million. The disposal of the Pepsi bottling operations, which is not subject toany regulatory approval, is expected to close by the end of March 2007. ECSA is the exclusive Pepsi Cola bottler in Costa Rica and distributes itsproducts through DCSA. FIFCO, which is listed on the Costa Rican stock exchange,holds investments in beverages, tourism and services in Costa Rica and CentralAmerica. SABMiller acquired the Pepsi bottling operations and its interest in the RealEstate Development as part of its Latin American transaction which completed on12 October 2005. Ends Notes to editors: About SABMiller plc SABMiller plc is one of the world's largest brewers with brewing interests ordistribution agreements in over 60 countries across six continents. The group'sbrands include premium international beers such as Miller Genuine Draft, PeroniNastro Azzurro and Pilsner Urquell, as well as an exceptional range of marketleading local brands. Outside the USA, SABMiller plc is also one of the largestbottlers of Coca-Cola products in the world. In the year ended 31 March 2006, the group reported US$15,307 million in revenueand profit before tax of $2,453 million. SABMiller plc is listed on the Londonand Johannesburg stock exchanges. This announcement can be found on www.sabmiller.com Enquiries:----------------- --------------------- -------------------- SABMiller plc 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 thesolicitation of an offer to buy or acquire securities of SABMiller plc (the"Company") or any of its affiliates in any jurisdiction or an inducement toenter into investment activity. This document includes "forward-looking statements". These statements maycontain the words "anticipate", "believe", "intend", "estimate", "expect" andwords of similar meaning. All statements other than statements of historicalfacts included in this announcement, including, without limitation, thoseregarding the Company's financial position, business strategy, plans andobjectives of management for future operations (including development plans andobjectives relating to the Company's products and services) are forward-lookingstatements. 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 fromfuture results, performance or achievements expressed or implied by suchforward-looking statements. These forward-looking statements are based onnumerous assumptions regarding the Company's present and future businessstrategies 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 anyupdates or revisions to any forward-looking statements contained in thisannouncement to reflect any change in the Company's expectations with regardthereto or any change in events, conditions or circumstances on which any suchstatement is based. Any information contained in this announcement on the price at which theCompany's securities have been bought or sold in the past, or on the yield onsuch 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 ExchangeRelated Shares:
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