Slovakia: SABMiller pays EUR 5 million for 15 % stake in Topvar brewery
SABMiller plc, one of the world’s largest brewers, will pay EUR 5 million for the 15 % stake in Slovakia's Topvar brewery, SITA news service reported, citing a statement by the municipality. Topvar sold 569,000 hectolitres of beer in 2004.
The stake being sold by Topolcany -- where Topvar is based -- forms part of this minority shareholding. The remainder is controlled by Topvar's managers and employees.
SABMiller announced in May it had agreed to acquire Topvar for an undisclosed sum and would make an offer to acquire all the shares of the minority shareholders in the company for a 40.5 % stake.
In its statement in May, SABMiller said depending on the level of acceptances under the offer, the controlling shareholders agreed to sell enough shares to give SABMiller a stake of at least 33 pct, but not more than 49 pct. Six months after the acquisition of the initial stake, SABMiller would be able to raise its stake in Topvar to at least 67 pct.
SABMiller plc is one of the world’s largest brewers, with 2003/04 lager sales volumes in excess of 137 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 2004, the group generated US$1,391 million pre-tax profit from a turnover of US$12,645 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
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