Financial Daily from THE HINDU group of publications
Saturday, May 28, 2005
Financial Daily from THE HINDU group of publications Saturday, May 28, 2005 |
|
|
|
|
|
Home Page
-
Breweries Corporate - Mergers & Acquisitions SABMiller buys out Shaw Wallace in joint venture for Rs 158 cr Our Bureau
New Delhi , May 27 SABMILLER Plc has bought out Shaw Wallace group's 50 per cent stake in India's second biggest brewer, Shaw Wallace Breweries, reportedly for Rs 158 crore ($36 million). The purchase has increased SABMiller's holding in Shaw Wallace Breweries to 99 per cent, with the balance of shares held by third-party minority investors, SABMiller said in a statement issued on Friday. The joint venture, created in May 2003 by SABMiller's Indian subsidiary MBL Investments (Mysore) and the Shaw Wallace group, was operating until now as Shaw Wallace Breweries and will be rebranded. The move provides the UK-based SABMiller full control over its operations in India, which the company has said is one of the emerging beer markets. Shaw Wallace Breweries comprised 10 breweries with key brands such as Hayward's 5000, Royal Challenge Premium Lager, and Knock Out. In the year to the end of March 2005, the brewing operations increased volumes to 2.4 million hectolitres, up 12 per cent on the previous year. Upon completion of the transaction, the brewing operations had net assets of $37 million. "Beer consumption in India remains at around one litre per person per year, which compares to levels of around 20 litres in comparable developing markets. With a population in excess of one billion, and GDP growth of over 6 per cent, India has the economic potential to be a leading global beer market. "SABMiller is well placed to benefit from this future growth and to participate in further Indian beer market consolidation," the SABMiller's Managing Director for Africa and Asia, Mr Andre Parker, said in a statement.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|