RNS Number : 8821H
SABMiller PLC
06 June 2011
 



Sale of Kenya Breweries Limited shares and termination of Brewing and Distribution Agreement with Kenya Breweries Limited

SABMiller plc announces that its subsidiary SABMiller Africa BV has agreed to sell its 20% shareholding in Kenya Breweries Limited (KBL) to East African Breweries Limited (EABL), for cash consideration of the USD equivalent of 19,528,062,600 Kenyan Shillings at completion (which if calculated using the mean average rate of exchange quoted by the Central Bank of Kenya on 3 June 2011 would be approximately USD 225 million), subject to EABL disposing of its 20% shareholding in Tanzania Breweries Limited by way of a public offer through the Dar-es-Salaam Stock Exchange.

SABMiller International BV has also agreed to terminate a Brewing and Distribution Agreement with KBL, and KBL will cease to distribute SABMiller's brands in Kenya after a short transitional period.

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