SABMiller, Anadolu sign transaction agreement
FMCG SUPPLIER NEWS
Drinks Business Review - Feb 2nd, 11:12
SABMiller has signed a definitive transaction agreement with Turkish conglomerate Anadolu Group and its beverage division Anadolu Efes to form a strategic alliance for Turkey, Russia, the Commonwealth of Independent States (CIS), Central Asia and the Middle East.
The plan to form a strategic alliance was announced on 19 October 2011. As per the latest development, SABMiller will transfer its Russian beer operations to Anadolu Efes in return for a 24% equity stake in Anadolu Efes.
Control of Andolu Efes will still remain in the hands of the Anadolu Group, while SABMiller will have customary minority protection rights.
The combined Russian business will have a number two position in value share terms and is expected to yield significant cost synergies of at least $120m per year.
Anadolu Efes, together with its subsidiaries and affiliates, produces and markets beer, malt and soft drinks in Turkey, Russia, the CIS countries, South Eastern Europe and the Middle East.
Anadolu Efes consists of 16 breweries, seven malteries and 20 Coca-Cola bottling plants in Turkey, Russia, Kazakhstan, Moldova, Georgia, Serbia and other countries.
SABMiller's portfolio includes Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft, Grolsch Aguila, Castle, Miller Lite, Snow and Tyskie.
The completion of the transaction is subject to receipt of the necessary regulatory approvals.
Related News
Groups welcome labelling decision
23/05/2012 - 09:12
Johannesburg - A government move to re-label Palestinian products was welcomed by the Muslim Judicial Council (MJC), the Media Review Network (MRN) and the SA Communist Party (SACP) on Tuesday.
Tiger Brands ups first-half earnings
22/05/2012 - 08:31
Johannesburg - South African consumer goods firm Tiger Brands [JSE:TBS] posted a modest rise in first-half earnings on Tuesday, helped by growth in its exports and international businesses as the domestic market remains subdued.
Unhappy Easter for chocolate fan
16/05/2012 - 07:41
Johannesburg - Retailer Pick n Pay agreed to change its labelling next year after a complaint over the amount of candy-coated chocolate buttons inside an Easter egg, the Advertising Standards Authority (ASA) said on Tuesday.
Tetra Pak Dairy Index identifies 2,7 billion consumer-opportunity for dairy industry
11/05/2012 - 14:25
New research from Tetra Pak, the global food processing and packaging company, has identified 2,7 billion low-income consumers in developing countries as the dairy industry’s next big growth opportunity due to an expected rise in prosperity, purchasing power and desire for packaged liquid dairy products (LDP).
Woolworths opens ‘trolley’ store
30/04/2012 - 09:14
Local high-end retailer Woolworths came one step closer in its bid to lure what CEO Ian Moir calls "trolley shoppers" away from rival Pick n Pay by opening its first supermarket on Friday.
ZaPOP
