E-Malt.com News article: 286

On July the 9th, 2002 South African Breweries (SAB) made an announcement about the completing of the transaction regarding the acquisition of Miller Brewing from Philip Morris Companies Inc. Now Miller has definitely become a wholly owned subsidiary of SAB.

According to the agreement concluded between SAB and Philip Morris Companies Inc., SAB acquired Miller Brewing Company, including existing debt of US$2,000 million, from Philip Morris Companies Inc. for a consideration of 430 million SAB shares.

On July 9, 2002 SAB was renamed SABMiller plc (SABMiller). Now SABMiller is a major international brewer. By volume it is the world's second largest brewer behind Anheuser Busch and it employs over 38,000 people across the globe in 111 breweries.


10 July, 2002