Food Industry
Industry: Email Alert RSS FeedSouth African Breweries
Food & Drink Weekly, April 15, 2002
UK-based conglomerate, South African Breweries (SAB), is reported to be close to sealing its $5 billion acquisition of Miller Brewing from the Philip Morris group. Industry and banking sources indicate that SAB will conclude the deal next week with Interbrew deciding against making a counter bid.
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The deal will be a cash-and-share deal, which will see SAB/Miller take over from Interbrew as the second largest brewing force in the world after Anheuser-Busch. According to reports, SAB will pay $3 billion in shares and the remainder in cash, which would effectively give Philip Morris a 25 percent stake in the new merged company.
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