SABMiller wants to take over Grolsch

19th November 2007, Comments 0 comments

19 November 2007, ENSCHEDE – Anglo-South African beer brewer SABMiller has made an indicative takeover bid on Grolsch. The brewer is offering EUR 48.25 per share, which comes to a total of EUR 816 million.

19 November 2007

ENSCHEDE – Anglo-South African beer brewer SABMiller has made an indicative takeover bid on Grolsch. The brewer is offering EUR 48.25 per share, which comes to a total of EUR 816 million.

The management and supervisory board members at Grolsch support the bid, the company announced on Monday.

The share price rose on the Amsterdam stock market by 77 percent on Monday to EUR 47.80.

The bid is in cash and fully financed already and represents a premium of 84.3 percent on the average closing share price for Grolsch over the past month. Besides the directors of Grolsch, a group of shareholders representing 37 percent of the company's shares has also expressed support for the bid.

SABMiller sees opportunities with Grolsch particularly in less developed markets like Africa and Latin America. The British brewer also sees chances in central and eastern Europe.

SABMiller is originally a South African company. The company got its current name when South African Breweries bought American brewer Miller in 2002. SABMiller's headquarters are in London. It is the second largest brewer in the world after Belgian-Brazilian InBev.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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