Proposed acquisition of minority interest in the Czech Republic
25 July 2005
SABMiller plc announces that its wholly owned subsidiary Pilsner Urquell Investments B.V. (“PUI”) has initiated a buy-out process to acquire the remaining 3.1% interest held by minority shareholders in the group’s Czech operating company, Plzeňský Prazdroj a.s. (“Plzeňský Prazdroj”). Following the proposed transaction, PUI will be the sole shareholder in Plzeňský Prazdroj.
Following an amendment to the Czech Commercial Code and at the request of PUI, Plzeňský Prazdroj’s majority shareholder, the board of directors of Plzeňský Prazdroj has called an extraordinary general meeting of shareholders (“EGM”) at which it expects PUI’s offer to minority shareholders to be approved. The value of the gross assets to be acquired is US$18.0 million or CZK446.7 million (representing 3.1% of total gross assets). The EGM is expected to take place on 26th August 2005 and the acquisition of the minority shareholders’ interest is expected to complete in October 2005.
Notes to editors:
SABMiller plc is one of the world’s largest brewers, with 2004/05 lager sales volumes in excess of 148 million hectolitres. It has a brewing presence in over 40 countries across four continents and a portfolio of strong brands and leading market shares in many of the countries in which it has brewing operations. Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2005, the group generated US$2,194 million pre-tax profit from a turnover of US$14,543 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
Plzeňský Prazdroj is the leading brewing company in the Czech Republic with lager sales volumes of over 9.7m hls in 2004/05 in over 50 countries. Its main brands are Pilsner Urquell, Gambrinus, Radegast and Velkopopovický Kozel.
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|Sue Clark||Director of Corporate Affairs||Tel: +44 20 7659 0184|
|Gary Leibowitz||Vice President, Investor Relations||Tel. +44 20 7659 0119|
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|Nigel Fairbrass||Head of Media Relations||Tel: +44 20 7659 0105|
|Mob: +44 7799 894265|
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