SABMiller plc Principal associated undertakings

Principal associated undertakings

Associated undertakings
The principal associated undertakings of the group, as at 31 March, were as set out below. Where the group’s interest in an associated undertaking is held by a subsidiary undertaking which is not wholly-owned by the group, the subsidiary undertaking is indicated in a note below.


			Effective interest in ordinary share capital
Name	Country of incorporation	Principal activity	2005	2004
African operations
Delta Corporation Ltd⁽¹⁾⁽²⁾	Zimbabwe	Brewing/CSDs	22%	19%
Kenya Breweries Ltd⁽²⁾	Kenya	Brewing	12%	12%
Société des Brasseries et Glacières Internationales	France	Holding company	20%	20%
Brasseries Internationales Holding Ltd	Gibraltar	Holding company	20%	20%
Marocaine d’Investissements et de Services⁽³⁾	Morocco	Holding company	40%	40%
Société de Boissons de l’Ouest, Algerien⁽⁴⁾	Algeria	CSDs	40%	40%
Skikda Bottling Company⁽⁴⁾	Algeria	CSDs	40%	40%
Société des Nouvelles Brasseries⁽⁴⁾	Algeria	Brewing	40%	40%
Algerienne de Bavaroise⁽⁴⁾	Algeria	Brewing	25%	25%
Asian operations
China Resources Breweries, Ltd, which holds the following subsidiary undertakings:	British Virgin Islands	Holding company	49%	49%
China Resources Snow Breweries (Anhui) Co Ltd⁽⁵⁾	China	Brewing	49%	49%
China Resources Snow Breweries (Anshan) Co Ltd⁽⁵⁾	China	Brewing	44%	44%
China Resources Snow Breweries (Changchun) Co Ltd⁽⁵⁾	China	Brewing	42%	42%
China Resources Snow (Dalian) Bangchuidao Breweries Co Ltd⁽⁵⁾⁽⁶⁾	China	Brewing	49%	39%
China Resources Snow Breweries (Dalian) Co Ltd(5) China Brewing⁽⁵⁾	China	Brewing	49%	49%
China Resources Snow Breweries (Harbin) Co Ltd(5) China Brewing ⁽⁵⁾	China	Brewing	34%	34%
China Resources Snow Breweries (Jilin) Co Ltd⁽⁵⁾	China	Brewing	49%	49%
China Resources Snow Breweries (Liaoyang) Co Ltd⁽⁵⁾	China	Brewing	29%	29%
China Resources Snow Breweries (Tianjin) Co Ltd⁽⁵⁾⁽⁷⁾	China	Brewing	48%	45%
China Resources Food and Beverage (Chengdu) Co Ltd⁽⁵⁾	China	Bottled water	49%	49%
China Resources Food and Beverage (Shenzhen) Co Ltd⁽⁵⁾	China	Bottled water	49%	49%
China Resources Snow Breweries (Shenyang) Co Ltd⁽⁵⁾	China	Brewing	44%	44%
C’est Bon Food and Beverage (Shenzhen) Co Ltd⁽⁵⁾	China	Bottled water	49%	49%
China Resources Snow Breweries (Wuhan) Co Ltd⁽⁵⁾	China	Brewing	44%	44%
China Resources Snow Breweries (Panjin) Co Ltd⁽⁵⁾	China	Brewing	34%	34%
China Resources Snow Breweries (Beijing) Co Ltd⁽⁵⁾	China	Brewing	49%	49%
China Resources Blue Sword (Sichuan) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Mianyang) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Leshan) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Chengdu) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Zigong) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Qionglai) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Suining) Breweries Co Ltd⁽⁵⁾⁽⁸⁾	China	Brewing	30%	–
China Resources Blue Sword (Shifang) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Guangan) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Mianzhu) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Dazhou) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Neijiang) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Blue Sword (Nanchong) Breweries Co Ltd⁽⁵⁾	China	Brewing	30%	30%
China Resources Snow Breweries (Changdu) Co Ltd⁽⁵⁾⁽⁹⁾	China	Brewing	49%	–
China Resources Snow Breweries (Guangdong) Co Ltd⁽⁵⁾⁽¹⁰⁾	China	Brewing	49%	–
China Resources Snow Breweries (Jiangsu) Co Ltd⁽⁵⁾⁽¹¹⁾	China	Brewing	49%	–
China Resources Snow Breweries (Wuxi) Co Ltd⁽⁵⁾⁽¹¹⁾	China	Brewing	49%	–
China Resources Snow Breweries (Changzhou) Co Ltd⁽⁵⁾⁽¹¹⁾	China	Brewing	34%	–
China Resources Longjin (Shucheng) Breweries Co Ltd⁽⁵⁾⁽¹²⁾	China	Brewing	44%	–
China Resources Longjin (Liuan)Breweries Co Ltd⁽⁵⁾⁽¹²⁾	China	Brewing	44%	–
Zhejiang Qianjiang Breweries Stock Co Ltd⁽⁵⁾⁽¹³⁾	China	Brewing	34%	–
Shenyang China Resources Enterprise Brewery Co Ltd⁽⁵⁾	China	Brewing	39%	39%
China Resources Snow Breweries (Liaoning) Co Ltd⁽⁵⁾	China	Brewing	49%	49%

Other Beverage Interests
Coca-Cola Canners (Pty) Ltd⁽¹⁴⁾	South Africa	Canning of beverages	32%	24%
Distell Group Ltd⁽¹⁾	South Africa	Wines and spirits	30%	30%

Hotels and Gaming
Tsogo Sun Holdings (Pty) Ltd	South Africa	Holding company	49%	49%
Southern Sun Hotels (Pty) Ltd⁽¹⁵⁾	South Africa	Holding company	49%	49%
Southern Sun Hotel Interests (Pty) Ltd⁽¹⁶⁾	South Africa	Hotels	49%	49%
Tsogo Sun Gaming (Pty) Ltd⁽¹⁵⁾	South Africa	Holding company	49%	49%
Tsogo Sun Casinos (Pty) Ltd⁽¹⁷⁾	South Africa	Gaming	49%	49%

Notes:

(1) Listed in country of incorporation.

(2) Interests in these companies are held by SABMiller Africa BV which is held 62% by SABMiller Africa and Asia BV.

(3) SABMiller acquired a 25% direct interest in this holding company on 18 March 2004 which has controlling interests in three breweries, a malting plant and a wet depot in Morocco. This 25% interest together with its 20% interest in the Castel group’s African beverage interests, gives SABMiller an effective interest of 40%; the other 60% is held by the Castel group’s African beverage interests.

(4) Effective 18 March 2004, SABMiller acquired 25% of the Castel group’s holding in these entities, which was 100% except for Algerienne de Bavaroise in which the holding was 63.1%. Together with its 20% interest in the Castel group’s African beverage interests this gives SABMiller participation on a 40:60 basis with the Castel group.

(5) China Resources Snow Breweries Ltd (CR Snow), the group’s 49% owned associated undertaking, holds between 60% and 100% of these companies.

(6) In May 2004 CR Snow increased its holding from 80% to 100%.

(7) CR Snow increased its holding to 87%.

(8) In May 2004 CR Snow acquired 62% of China Resources Blue Sword (Suining) Breweries Co Ltd.

(9) In November 2004 CR Snow acquired 100% of China Resources Snow Breweries (Changdu).

(10) In May 2004 CR Snow commenced construction of a greenfield brewery in Guangdong province.

(11) In October 2004 CR Snow acquired the Chinese brewing interests of Lion Nathan, acquiring between 70% and 100% of each company.

(12) In June 2004 CR Snow acquired 90% of the Longjin group, including the Shucheng and Liuan breweries.

(13) In June 2004 CR Snow acquired 70% of the Qianjiang brewery.

(14) The South African Breweries Ltd holds 32% of this company, which was previously held by ABI Ltd.

(15) 100% subsidiary of Tsogo Sun Holdings (Pty) Ltd.

(16) 100% subsidiary of Southern Sun Hotels (Pty) Ltd.

(17) 100% subsidiary of Tsogo Sun Gaming (Pty) Ltd.

The principal country in which each of the above associated undertakings operates is the same as the country in which each is incorporated. However, Société des Brasseries et Glacières Internationales and Brasseries Internationales Holding Ltd’s (Castel group) principal subsidiaries are in Africa.

(1)	Listed in country of incorporation.
(2)	Interests in these companies are held by SABMiller Africa BV which is held 62% by SABMiller Africa and Asia BV.
(3)	SABMiller acquired a 25% direct interest in this holding company on 18 March 2004 which has controlling interests in three breweries, a malting plant and a wet depot in Morocco. This 25% interest together with its 20% interest in the Castel group’s African beverage interests, gives SABMiller an effective interest of 40%; the other 60% is held by the Castel group’s African beverage interests.
(4)	Effective 18 March 2004, SABMiller acquired 25% of the Castel group’s holding in these entities, which was 100% except for Algerienne de Bavaroise in which the holding was 63.1%. Together with its 20% interest in the Castel group’s African beverage interests this gives SABMiller participation on a 40:60 basis with the Castel group.
(5)	China Resources Snow Breweries Ltd (CR Snow), the group’s 49% owned associated undertaking, holds between 60% and 100% of these companies.
(6)	In May 2004 CR Snow increased its holding from 80% to 100%.
(7)	CR Snow increased its holding to 87%.
(8)	In May 2004 CR Snow acquired 62% of China Resources Blue Sword (Suining) Breweries Co Ltd.
(9)	In November 2004 CR Snow acquired 100% of China Resources Snow Breweries (Changdu).
(10)	In May 2004 CR Snow commenced construction of a greenfield brewery in Guangdong province.
(11)	In October 2004 CR Snow acquired the Chinese brewing interests of Lion Nathan, acquiring between 70% and 100% of each company.
(12)	In June 2004 CR Snow acquired 90% of the Longjin group, including the Shucheng and Liuan breweries.
(13)	In June 2004 CR Snow acquired 70% of the Qianjiang brewery.
(14)	The South African Breweries Ltd holds 32% of this company, which was previously held by ABI Ltd.
(15)	100% subsidiary of Tsogo Sun Holdings (Pty) Ltd.
(16)	100% subsidiary of Southern Sun Hotels (Pty) Ltd.
(17)	100% subsidiary of Tsogo Sun Gaming (Pty) Ltd.