SABMiller makes one of beer’s biggest buys
As was to be expected, SABMiller came first in the race to acquire South America’s number 2 brewer Bavaria for USD 7.8 billion including debt and interests in subsidiaries. The deal makes SABMiller the world’s second-biggest brewer behind InBev. SABMiller said it was buying a 71.8 percent stake in Bavaria from the Santo Domingo family by issuing 225 million shares worth about USD 3.46 billion. This will give the family a 15.1 percent stake in the combined group and make the Santo Domingos SABMiller’s second biggest shareholder, behind Altria (formerly Philip Morris), which holds 25 percent after selling Miller to South African Breweries in 2002. ...
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