Key Developments: SABMiller PLC (SAB.L)
22 May 2013
Latest Key Developments (Source: Significant Developments)
SABMiller PLC announced that the Board has accelerated the planned promotion of Chief Operating Officer Mr. Alan Clark to Chief Executive with immediate effect due to disease of Mr. Graham Mackay, Executive Chairman of the Company. Mr. John Manser, Deputy Chairman, will become Acting Chairman for the time being. Full Article
SABMiller PLC announced that on March 26, 2013 its wholly-owned South African subsidiary SABSA Holdings Limited (formerly SABSA Holdings Proprietary Limited) (the Issuer) successfully priced a bond issue under its ZAR 6,000,000,000 Domestic Medium Term Note Programme established in December 2012, comprising ZAR 1,000,000,000 7.125% notes due March 2018 (the Notes). The Notes will be guaranteed by the Company and the net proceeds will be used by the Issuer for its general corporate purposes. Full Article
SABMiller PLC announced that Mr Graham Mackay, who it is intended will become Non-Executive Chairman at the conclusion of that meeting when Mr Alan Clark becomes Chief Executive, will succeed Mr John Manser as chairman of the nomination committee. Full Article
SABMiller PLC's Joint Venture to Acquire for CNY 5.38 Billion Brewery Business from Kingway Brewery Holdings Ltd
SABMiller PLC announced that China Resources Snow Breweries Limited (Snow), SABMiller PLC's joint venture with China Resources Enterprise, Limited (CRE), has entered into an agreement with Kingway Brewery Holdings Ltd (Kingway) to acquire Kingway's brewery business (Brewery Business), for a total cash consideration of CNY 5.38 billion (USD 864.00 million). The Brewery Business comprises seven breweries in China and has total annual production capacity of 14.5 million hectoliters. Full Article
SABMiller PLC's Subsidiary Cerveceria Nacional SA Sells Milk and Juice Business to La Cooperativa de Productores de Leche Dos Pinos R. L.
SABMiller PLC announced that its subsidiary in Panama, Cerveceria Nacional SA, has agreed to sell its milk and juice business to La Cooperativa de Productores de Leche Dos Pinos R.L. (Dos Pinos) for a total cash consideration of USD 86.0 million. Completion of the transaction is subject to approval from the Panama competition authority (the Authority for Consumer Protection and the Defense of Competition). Full Article
SABMiller PLC announced that wholly owned South African subsidiary SABSA Holdings Limited (formerly SABSA Holdings Proprietary Limited) (SABSA) has issued a programme memorandum (the Programme Memorandum) relating to the establishment by SABSA of a ZAR6,000,000,000 Domestic Medium Term Note Programme guaranteed by the Company. The Programme Memorandum was approved by the Johannesburg stock exchange, JSE Limited, and registered on the Interest Rate Market of the JSE on December 13, 2012. The Company expects that notes issued under the Programme will be listed on the Interest Rate Market of the JSE, although under the terms of the Programme Memorandum unlisted Notes or Notes listed on another financial exchange may also be issued. No Notes are being issued or offered at this time. The net proceeds of any issue of Notes will be applied by SABSA for general corporate purposes, or as may be otherwise described in the applicable pricing supplement relating to such Notes. Full Article
SABMiller PLC announced that on December 06, 2012 its wholly-owned subsidiary SABMiller Holdings Inc. completed a bond issue under its USD3,000,000,000 Guaranteed Euro Medium Term Note Programme, comprising EUR 1,000,000,000 1.875% notes due January 2020 (the "Notes"). The Notes are guaranteed by the Company and are listed on the Official List of the Irish Stock Exchange and admitted to trading on its regulated market. Full Article
SABMiller PLC announced that on November 29, 2012 wholly owned subsidiary SABMiller Holdings Inc. (the Issuer) successfully priced a bond issue under USD3,000,000,000 Guaranteed Euro Medium Term Note Programme, comprising EUR1,000,000,000 1.875% notes due January 2020 (the Notes). The Notes will be guaranteed by the Company and the net proceeds will be used by the Issuer to repay in part bank borrowings incurred to finance the acquisition of Foster’s Group Limited in December 2011. The issue is scheduled to close on December 6, 2012. Full Article
SABMiller PLC announced that the board has declared a cash interim dividend of USD0.24 per share, an increase of 12%. The dividend will be payable on December 14, 2012 to shareholders registered on the London and Johannesburg registers on December 7, 2012. The ex-dividend trading dates will be December 5, 2012 on the London Stock Exchange (LSE) and December 3, 2012 on the JSE Limited (JSE). Full Article
SABMiller plc announced that Meyer Kahn, who first joined the group in 1966, and who has been Chairman of SABMiller plc since its primary listing on the London Stock Exchange in 1999, will retire as Chairman after 46 years of service with the Group. Graham Mackay, who joined the group in 1978 and who has been Group Managing Director since 1997 and Chief Executive since 1999, will become Executive Chairman, with the intention that he will continue in that role for one year, before becoming Non-Executive Chairman at the annual general meeting in 2013. Alan Clark, currently Managing Director of SABMiller Europe, will be appointed as Chief Operating Officer of the Group, and as an executive director, with the intention that he will succeed Graham Mackay as Chief Executive at the annual general meeting in 2013. John Manser, currently the Senior Independent Non-Executive Director and Chairman of the Audit Committee, will in addition become Deputy Chairman of the Board. Full Article
HARARE, May 15 - SABMiller's Zimbabwe unit reported a 36 percent rise in full-year earnings on Wednesday, driven by strong sales of premium lager and non-alcoholic beverages.