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SABMiller PLC - Result - Offers in Ecuador

RNS Number:6790O
28 December 2006

28 December 2006

  Outcome of SABMiller tender offers for shares in subsidiaries in Ecuador and
                      announcement of an Ecuadorian merger

On 18 October 2006, SABMiller plc ('SABMiller') announced that simultaneous
tender offers had been launched 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') and a tender offer
for all of the shares in its unlisted Ecuadorian subsidiary, Agrilsa Agricola e
Industrial S.A. ('Agrilsa') (collectively the 'Offers'). The Offers were made in
cash, at US$36.25 per share for each of the three companies and closed on 13
December 2006.

Acceptances were received from 62.31%, 57.78% and 78.41% of the non-SABMiller
holders of CCN, Andina and Agrilsa shares, respectively. As a result,
SABMiller's effective interest has increased to 96.00% in CCN, to 85.49% in
Andina and to 96.93% in Agrilsa. The total cash consideration paid to
non-SABMiller shareholders as a result of the Offers was approximately US$54

As previously announced, following the successful completion of the Offers it is
intended to merge the operations of CCN and Andina into one integrated business
in Ecuador (the 'Merger'). On 22 December 2006, meetings of the shareholders of
CCN and Andina were held at which resolutions approving the Merger were passed.
Steps will now be taken under Ecuadorian Law to merge CCN and Andina. SABMiller
anticipates this process will take up to 10 months to complete.

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

'We are very pleased with the response from shareholders to the offers. We will
now proceed with the necessary steps to integrate our two excellent businesses
in Ecuador into a single company to create a world class operation, further
demonstrating SABMiller's commitment to its Ecuadorian businesses and


Notes to editors:

About SABMiller plc

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.

This announcement is available on


SABMiller plc                                            Tel: +44 20 7659 0100

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

Rachel Kentleton    Senior Manager, Investor Relations   Tel: +44 20 7659 0174

Nigel Fairbrass     Head of Media Relations              Tel: +44 20 7659 0105

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.