RNS Number : 3606S
SABMiller PLC
18 November 2011
 



 

 

SABMiller confirms Australian Tax Office ruling on recommended proposal to acquire Foster's Group Ltd

 

As part of SABMiller's proposed acquisition of Foster's, SABMiller and Foster's had agreed that Foster's could pay its shareholders a return of capital of A$0.30 per share prior to the closing of the acquisition, subject to obtaining an appropriate ruling from the ATO.

 

Foster's has not been able to obtain the ruling from the ATO. Accordingly, as set out in the Implementation Agreement, SABMiller's offer price will increase from A$5.10 per share to A$5.40 per share to take account of this development.

 

This amendment does not increase the acquisition enterprise value and does not change the total cash received by each Foster's shareholder.

 

If approved by shareholders at the relevant scheme meetings later this year, SABMiller continues to expect the acquisition to be completed before the end of 2011.

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Notes to editors

 

SABMiller plc is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's wide portfolio includes global brands such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie.  SABMiller is also one of the world's largest bottlers of Coca-Cola products.

 

In the year ended 31 March 2011, the group reported US$4,491 million adjusted pre-tax profit and group revenue of US$28,311 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.

High resolution images and broadcast footage are available for the media to view and download free of charge from
the News and media centre on www.sabmiller.com

 

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.

 

Media enquiries: SABMiller plc t: +44 20 7659 0100

Nigel Fairbrass,  Head of media relations, SABMiller plc, T: +44 7799 894 265

 

Beth Longcroft, Business media relations manager, SABMiller plc, t: +44 7425 621 030

 

 

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.

 


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