SABMiller Announces Organisational Changes in Its African Operations
The changes involve the combination of the operational management of the Castel and SABMiller businesses in Nigeria and Angola, with the Nigerian businesses being managed in future by SABMiller, and the Angolan businesses being managed by Castel.
Jan 16 2012 --- SABMiller plc announces the implementation of a number of organisational changes in its African operations with effect from 1 January 2012, as part of SABMiller's strategic alliance agreement with the Castel Group.
The changes involve the combination of the operational management of the Castel and SABMiller businesses in Nigeria and Angola, with the Nigerian businesses being managed in future by SABMiller, and the Angolan businesses being managed by Castel. Amendments have also been agreed to the terms of the strategic alliance agreement to provide for improved sharing of best practice and technical expertise, and a more precise methodology for the existing mutual pre-emptive rights over the groups' respective beverage operations in Africa (excluding South Africa and Namibia).
The existing strategic alliance agreement, pursuant to which SABMiller has a 20% shareholding in Castel's other African beverage interests and Castel has a 38% shareholding in SABMiller's principal African holding company, is otherwise unchanged.
Commenting on the changes, Graham Mackay, Chief Executive of SABMiller said:
"Our relationship with the Castel Group has gone from strength to strength over the decade that the strategic alliance has been in place. We believe that these operational changes will benefit our local businesses, our minority partners, and our customers and consumers in both Angola and Nigeria, and demonstrate both groups' long-term commitment to the alliance."
Pierre Castel, Executive Chairman of the Castel Group, said:
"After ten years of alliance, it was deemed appropriate to review and upgrade our partnership with a stronger focus on synergies."
