SABMiller Disposes of Pepsi Franchise and Interest in Hotel and Real Estate Development in Costa Rica

13 Mar 2007

SABMiller plc announces that its subsidiary, Cervecería Nacional S.A., the leading beer and soft drinks manufacturer and distributor in Panama, has agreed to sell its Pepsi bottling operations in Costa Rica, consisting of Embotelladora Centroamericana S.A. (“ECSA”) and Distribuidora Centroamericana de Bebidas DCB S.A. (“DCSA”), to Cervecería Costa Rica S.A. (“CCR”).  SABMiller also announces that it has completed the sale of its 42.5% interest in Reserva Conchal, a hotel and real estate development in the north-west of Costa Rica (the “Real Estate Development”), to Crosslake Commercial Inc. (“Crosslake”). Both CCR and Crosslake are subsidiaries of Florida Ice and Farm Company, S.A. (“FIFCO”).  The total consideration for the two transactions, payable in cash, amounts to US$116 million. The disposal of the Pepsi bottling operations, which is not subject to any regulatory approval, is expected to close by the end of March 2007. 

ECSA is the exclusive Pepsi Cola bottler in Costa Rica and distributes its products through DCSA. FIFCO, which is listed on the Costa Rican stock exchange, holds investments in beverages, tourism and services in Costa Rica and Central America. 

SABMiller acquired the Pepsi bottling operations and its interest in the Real Estate Development as part of its Latin American transaction which completed on 12 October 2005.

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About SABMiller plc

SABMiller plc is one of the world’s largest brewers with brewing interests or distribution agreements in over 60 countries across six continents. The group’s brands include premium international beers such as Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market leading local brands.  Outside the USA, SABMiller plc is also one of the largest bottlers of Coca-Cola products in the world.

In the year ended 31 March 2006, the group reported US$15,307 million in revenue and profit before tax of $2,453 million.  SABMiller plc is listed on the London and Johannesburg stock exchanges.