E-Malt.com News article: 251

Besides the fact that Philip Morris wants USD 5 milliard for selling its Miller to South African Breweries (SAB),it has presented another request – the American giant wants two places in the SAB’s board of directors.

As it was announced before, both companies agreed that if Miller is sold to SAB, Philip Morris will take control over a 33 % stake in the African brewer. Consequently, if SAB will give a consent to the Philip Morris’ claim (2 seats in the SAB’s board), this will have the possibility to keep its stake in South African Breweries.

However, the final outcome to the request of Philip Morris will be known only after the finalization of negotiations, which are still going on.


29 May, 2002