Printer Friendly

Castel denies talks with SABMiller on African beer unit sale.


French drinks group Castel said yesterday it is not negotiating a possible sale of its African beer operations to London-based SABMiller (LON:SAB), which is the second-largest brewer in the world.

The Times of London reported earlier on Thursday that the two companies were in talks on a potential deal that could fetch more than GBP6bn (USD9.5bn/EUR6.8bn).

The two companies entered a strategic alliance in 2001, under which SABMiller took over a 20% stake in Castel's beer and soft drinks operations in Africa, and the French group acquired a 38% stake of SABMiller's African subsidiary.

SABMiller has brewing and beverage operations in 14 African countries.Country: Africa, Sector: Food/Beverages/TobaccoTarget: Vendor: Castel GroupDeal size in USD: 9.5bnType: DivestmentStatus: DeniedComment: The deal size is suggested


COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Geographic Code:60AFR
Date:Oct 8, 2010
Previous Article:Veeco closes metrology unit sale to Bruker Corp.
Next Article:Indian Hinduja eyes German BHF-Bank.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters