Termination of Corona Extra licence in Australia
9 March 2012
SABMiller's Australian subsidiary, Foster's Group Ltd ("Foster's"), has been informed by Grupo Modelo S.A.B de C.V. that it intends to exercise a change of control provision terminating Foster's licence to import and distribute Corona Extra in Australia with immediate effect.
The move follows SABMiller's acquisition of Foster's in December 2011, through which Foster's gained access to SABMiller's premium brand portfolio in Australia, including Peroni Nastro Azzurro, Peroni Legerra, Miller Genuine Draft, Grolsch Premium Lager, Bluetongue and Pilsner Urquell.
Sales volumes of Corona Extra in the calendar year 2011 were approximately 600,000 hectolitres in a total Australian market of some 18 million hectolitres.
SABMiller's expected financial returns from the acquisition of Foster's will remain broadly unchanged following this termination.
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Notes to editors
About SABMiller plc
SABMiller plc is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's wide portfolio includes global brands Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft, Grolsch and Victoria Bitter, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also one of the world's largest bottlers of Coca-Cola products.
In the year ended 31 March 2011, the group reported US$4,491 million adjusted pre-tax profit and group revenue of US$28,311 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
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