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SABMiller PLC - Tender Offer

RNS Number:3112T
SABMiller PLC
28 October 2005

Ref: 28/10/2005


                                 SABMiller plc


       Voluntary tender offer to acquire Bavaria S.A. shares in Colombia


London and Johannesburg, 28 October 2005.  SABMiller plc ('SABMiller') announces
today the launch of a voluntary tender offer on the Colombian Stock Exchange for
all of the shares in Bavaria S.A. ('Bavaria') which the SABMiller group does not
already own, at a cash price of US$19.48 per share (the 'Offer').  The Offer may
be accepted during Colombian Stock Exchange trading hours on 5 December 2005,
with settlement to take place on 13 December 2005.


On 12 October 2005, SABMiller announced the completion of the merger through
which it obtained a controlling interest of 71.77% in Bavaria, the second
largest brewer in South America.  The shares that are subject to the Offer
therefore represent 28.23% of Bavaria and the total cash consideration payable
if the Offer is accepted in full is expected to be approximately US$1,362
million.


The International Finance Corporation and certain members and affiliates of the
Santo Domingo family have undertaken to accept the Offer in respect of their
shareholdings representing in aggregate a total of 4.62% of the shares.


Settlement of the Offer will be in Colombian pesos, although accepting
shareholders may, subject to compliance with Colombian laws and regulations,
elect to receive US dollars provided that they have by 11 November 2005 made an
irrevocable election to do so.  Settlement in Colombian pesos will be effected
at the average daily representative market exchange rate certified by the
Colombian Banking Superintendence for the period from 2 November 2005 to 1
December 2005, both days inclusive.


Ends


Notes to editors:

SABMiller plc is one of the world's largest brewers, with 2004/05 lager volumes
in excess of 148 million hectolitres.  It has a brewing presence in over 40
countries and a portfolio of strong brands and leading market shares in many of
the countries in which it has brewing operations.  Outside the USA, SABMiller
plc is one of the largest bottlers of Coca-Cola products in the world.


In the year ended 31 March 2005, the group reported US$2,194 million pre-tax
profit and a turnover of US$14,543 million.  SABMiller plc is listed on the
London and Johannesburg stock exchanges.


This announcement is available on the company website: www.sabmiller.com


High resolution images are available for the media to view and download free of
charge from: www.vismedia.co.uk


Enquiries:


                    SABMiller plc                           Tel: +44 20 7659 0100
Sue Clark           Director of Corporate Affairs           Tel: +44 20 7659 0184
Gary Leibowitz      Vice President, Investor Relations      Tel: +44 20 7659
0174
Nigel Fairbrass     Head of Media Relations                 Tel: +44 7799 894265


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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