SAB deal open for retailers

February 22, 2010

Johannesburg - Global brewing giant SABMiller plc's local unit, The South African Breweries, announced on Monday that the retailer component of its broad-based empowerment transaction - SAB Zenzele - is now open for participation by retailers. The offer is scheduled to close on 7 April and will be implemented in May 2010.

The broader BBBEE transaction, which involves the establishment of the SAB Zenzele Employee Trust and the SAB Foundation, was first announced in July 2009. It will place 8.45% of the company's shares under black ownership and is estimated to be worth R7.3bn.

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