Colombia: SABMiller will easier operate Bavaria, analysts said
SABMiller's purchase of remaining stake in Bavaria is just a tidying up exercise and won't make a material difference to the company, says an analyst on September 27th, according to Dow Jones Newswires.
"When you buy things in emerging markets, there's usually a lot of tidying up to be done," he says. "The more they own of the company, the easier it will be to operate." SABMiller shares +1.4% at 10.2p.
SABMiller plc announced on September 27th the launch of a tender offer on the Colombian Stock Exchange for all of the shares in Bavaria S.A. which the SABMiller group does not already own, at a cash price of 46,176 Colombian pesos approximately (US$19.10) per share. The Offer is being made at the fair value price determined by an independent investment bank, as required by Colombian securities laws, in accordance with the process outlined at the time of the announcement of the Bavaria transaction.
The shares that are the subject of the Offer represent 2.22% of Bavaria and the total cash consideration payable if the Offer is accepted in full is expected to be approximately 252,945 million Colombian pesos (approximately US$105 million). The Offer may be accepted during Colombian Stock Exchange trading hours on 12 October 2006.
SABMiller plc is one of the world’s largest brewers with brewing interests or distribution agreements in over 60 countries across six continents. The group’s brands include premium international beers such as Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market leading local brands. Outside the USA, SABMiller plc is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2006, the group reported US$15,307 million in revenues and profit before tax of US$2,453 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
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