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SABMiller PLC - Tender Offers in Ecuador

RNS Number:6474K
18 October 2006

18 October 2006


SABMiller, one of the world's leading brewers, announces today that it is making
simultaneous tender offers ('offers') on the Guayaquil and Quito Stock Exchanges
for all the shares in its listed Ecuadorian subsidiaries, Compania de Cervezas
Nacionales C.A. ('CCN') and Cerveceria Andina S.A ('Andina'). In addition, a
tender offer has been made for all of the shares in its unlisted Ecuadorian
subsidiary, Agrilsa Agricola e Industrial S.A. ('Agrilsa'). The offers are being
made in cash, at US$36.25 per share in each of the 3 companies. The offer period
will commence on 30 October 2006 and will close on 13 December 2006.

The price offered for each CCN share represents a premium of $4.79 (15.23%) and
the price offered for each Andina share represents a premium of $4.75 (15.08%),
to the average market price for the 30 days prior to 17 October 2006.

SABMiller has an effective economic interest of approximately 92.06% in CCN,
72.34% in Andina and 92.19% in Agrilsa. The total cash consideration payable by
SABMiller to minority shareholders, if the 3 offers are accepted in full, will
be approximately US$88 million.

CCN is Ecuador's largest brewing business, and is located in Guayaquil. Andina
is Ecuador's second largest brewing business and is located in Quito. Both
companies produce SABMiller's full portfolio of Ecuadorian beers, including
Pilsner, the country's leading lager.

Dependent on the outcome of the offers, SABMiller's intention is to merge the
operations of CCN and Andina into one integrated business in Ecuador, with
operations in Guayaquil and Quito.

Commenting on the transaction, Barry Smith, President, SABMiller South America,

'This process will move us one step closer to integrating our two excellent
businesses in Ecuador into a single company, with world class facilities'.


Notes to editors:


SABMiller plc is one of the world's largest brewers with brewing interests or
distribution agreements in over 60 countries across five 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.

This announcement can be found on

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SABMiller plc                                           Tel: +44 20 7659 0100

Sue Clark            Director of Corporate Affairs      Tel: +44 20 7659 0184

Rachel Kentleton     Senior Investor Relations Manager  Tel: +44 20 7659 0113

Nigel Fairbrass      Head of Media Relations            Tel: +44 7799 894265

This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
'Company') or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.

This document includes 'forward-looking statements'. These statements may
contain the words 'anticipate', 'believe', 'intend', 'estimate', 'expect' and
words of similar meaning. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company's financial position, business strategy, plans and
objectives of management for future operations (including development plans and
objectives relating to the Company's products and services) are forward-looking
statements. These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such
forward-looking statements. These forward-looking statements are based on
numerous assumptions regarding the Company's present and future business
strategies and the environment in which the Company will operate in the future.
These forward-looking statements speak only as at the date of this announcement.
The Company expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained in this
announcement to reflect any change in the Company's expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based.

Any information contained in this announcement on the price at which the
Company's securities have been bought or sold in the past, or on the yield on
such securities, should not be relied upon as a guide to future performance.

                      This information is provided by RNS
            The company news service from the London Stock Exchange


Share price data provided by vwd group & financial data provided byMorningstar.