28th Dec 2006 11:00
SABMiller PLC28 December 2006 28 December 2006 Outcome of SABMiller tender offers for shares in subsidiaries in Ecuador and announcement of an Ecuadorian merger On 18 October 2006, SABMiller plc ("SABMiller") announced that simultaneoustender offers had been launched on the Guayaquil and Quito Stock Exchanges forall the shares in its listed Ecuadorian subsidiaries, Compania de CervezasNacionales C.A. ("CCN") and Cerveceria Andina S.A. ("Andina") and a tender offerfor all of the shares in its unlisted Ecuadorian subsidiary, Agrilsa Agricola eIndustrial S.A. ("Agrilsa") (collectively the "Offers"). The Offers were made incash, at US$36.25 per share for each of the three companies and closed on 13December 2006. Acceptances were received from 62.31%, 57.78% and 78.41% of the non-SABMillerholders of CCN, Andina and Agrilsa shares, respectively. As a result,SABMiller's effective interest has increased to 96.00% in CCN, to 85.49% inAndina and to 96.93% in Agrilsa. The total cash consideration paid tonon-SABMiller shareholders as a result of the Offers was approximately US$54million. As previously announced, following the successful completion of the Offers it isintended to merge the operations of CCN and Andina into one integrated businessin Ecuador (the "Merger"). On 22 December 2006, meetings of the shareholders ofCCN and Andina were held at which resolutions approving the Merger were passed.Steps will now be taken under Ecuadorian Law to merge CCN and Andina. SABMilleranticipates this process will take up to 10 months to complete. Commenting on the transaction, Barry Smith, President, SABMiller South America,said: "We are very pleased with the response from shareholders to the offers. We willnow proceed with the necessary steps to integrate our two excellent businessesin Ecuador into a single company to create a world class operation, furtherdemonstrating SABMiller's commitment to its Ecuadorian businesses andemployees". 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 inrevenues and profit before tax of US$2,453 million. SABMiller plc is listed onthe London and Johannesburg stock exchanges. This announcement is available 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 0174 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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