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December 8, 2009

SABMiller to conclude R7,3bn empowerment deal by May

Global brewer SABMiller expected to conclude its R7,3-billion Zenzele broad-based black economic empowerment (BBBEE) transaction, which would place 8,45% of its South African business, the South African Breweries' (SAB's), shares under black ownership, by May next year.

The brewer on Tuesday provided further details of the BBBEE transaction, saying the value of the transaction had increased as a result of a 70% rise in its US dollar share price.

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Posted at December 8, 2009 10:16 AM