18th Oct 2006 13:00
SABMiller PLC18 October 2006 18 October 2006 SABMILLER TENDER OFFERS FOR SHARES IN SUBSIDIARIES IN ECUADOR SABMiller, one of the world's leading brewers, announces today that it is makingsimultaneous tender offers ("offers") on the Guayaquil and Quito Stock Exchangesfor all the shares in its listed Ecuadorian subsidiaries, Compania de CervezasNacionales C.A. ("CCN") and Cerveceria Andina S.A ("Andina"). In addition, atender offer has been made for all of the shares in its unlisted Ecuadoriansubsidiary, Agrilsa Agricola e Industrial S.A. ("Agrilsa"). The offers are beingmade in cash, at US$36.25 per share in each of the 3 companies. The offer periodwill commence on 30 October 2006 and will close on 13 December 2006. The price offered for each CCN share represents a premium of $4.79 (15.23%) andthe price offered for each Andina share represents a premium of $4.75 (15.08%),to the average market price for the 30 days prior to 17 October 2006. SABMiller has an effective economic interest of approximately 92.06% in CCN,72.34% in Andina and 92.19% in Agrilsa. The total cash consideration payable bySABMiller to minority shareholders, if the 3 offers are accepted in full, willbe approximately US$88 million. CCN is Ecuador's largest brewing business, and is located in Guayaquil. Andinais Ecuador's second largest brewing business and is located in Quito. Bothcompanies produce SABMiller's full portfolio of Ecuadorian beers, includingPilsner, the country's leading lager. Dependent on the outcome of the offers, SABMiller's intention is to merge theoperations of CCN and Andina into one integrated business in Ecuador, withoperations in Guayaquil and Quito. Commenting on the transaction, Barry Smith, President, SABMiller South America,said: "This process will move us one step closer to integrating our two excellentbusinesses in Ecuador into a single company, with world class facilities". Ends Notes to editors: SABMiller SABMiller plc is one of the world's largest brewers with brewing interests ordistribution agreements in over 60 countries across five 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 can be found on www.sabmiller.com High resolution brand images are available for the media to view and downloadfree of charge from www.vismedia.co.uk. ________________________________________________________________________________Enquiries:________________________________________________________________________________ SABMiller plc Tel: +44 20 7659 0100 Sue Clark Director of Corporate Affairs Tel: +44 20 7659 0184 Rachel Kentleton Senior Investor Relations Manager Tel: +44 20 7659 0113 Nigel Fairbrass Head of Media Relations Tel: +44 7799 894265 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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