Seen the light
There’s only one way for SABMiller to narrow the gap to Romania’s leading brewer Heineken and that is: buy market share. SABMiller announced that it has bought Romanian brewing company Aurora S.A. ("Aurora"), which will raise its market share to 20 percent. The acquisition is conditional upon Romanian Competition Council approval and the fulfilment of certain technical requirements.
Aurora has one brewery (cap. 680,000 hl) which is located in the city of Brasov in central Romania. Although Aurora has national market share of 5.2 percent, its brands have a predominantly regional presence. The Romanian beer market grew 12 percent to 12.8 million hl in 2003. Aurora’s beer sales in 2003 were 659,000 hl. SABMiller said that the value of the net assets is approximately USD16.0 times..
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