25th Oct 2005 13:00
SABMiller PLC25 October 2005 SABMiller plc Offer to acquire class A voting stock in Peru 25 October 2005 London and Johannesburg, 25 October 2005. SABMiller plc ("SABMiller") announcesthat, on 26 October 2005, it will place through a wholly-owned subsidiary anoffer on the Lima Stock Exchange for all the class A voting stock in Union deCervecerias Peruanas Backus y Johnston S.A.A. ("Backus") which the SABMillergroup does not already own, at a cash price of US$25.34 per share ("the Offer").The Offer will remain open for tenders for at least ten trading days. Cheswick Comercial, S.A. ("Cheswick"), which holds approximately 20% of theclass A voting stock in Backus, has agreed to tender its class A voting stock inBackus pursuant to the Offer. On 12 October 2005, SABMiller announced the completion of the merger throughwhich it has acquired a controlling interest in Bavaria S.A., the second largestbrewer in South America. As a result of the merger, the SABMiller group ownsapproximately 79.7% of the class A voting stock in Backus. As required byPeruvian securities law, SABMiller will launch a public tender offer for anyoutstanding class A voting stock in Backus in due course following expiry of theOffer. Holders of class A voting stock in Backus who do not tender their stockpursuant to the Offer will therefore have a further opportunity to tender theirstock in the public tender offer. The cash requirement for the acquisition of the remainder of the class A votingstock in Backus is expected to be approximately US$478 million. Backus is Peru's largest brewer and is listed on the Lima Stock Exchange. - ends - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SAB.L