24 August, 2005

South Africa: SABMiller doesn’t officially confirm the acquisition of Krasny Vostok brewer

SABMiller has no official comment on a report of a Russian Vedomosti business newspaper according to which it would have made an offer to purchase Krasny Vostok, a major Russian brewery.

SABMiller told I-Net Bridge that it could not comment on the story, which appeared in the daily. The paper said the potential deal could cost as much as $1 billion (R6.5 billion) and that Krasny Vostok would have also received a competing offer from rival brewer Efes.

Russia is one of the s fastest growing beer markets of the world, and SABMiller didn’t make a secret of it , that the company would like to expand in markets of this kind.

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