SABMiller Disposes of Colombian Water Business
The disposal of Agua Brisa is subject to approval by the Colombian competition authorities and other customary pre-closing conditions, with closing of the transaction expected in late 2008 or early 2009.
08/08/08 SABMiller plc announces that its Colombian subsidiary Bavaria S.A. has agreed to dispose of its Agua Brisa bottled water business and assets, which will be acquired jointly by Coca-Cola FEMSA and The Coca-Cola Company, for a consideration of USD92,000,000. The disposal of Agua Brisa is subject to approval by the Colombian competition authorities and other customary pre-closing conditions, with closing of the transaction expected in late 2008 or early 2009. The parties have also agreed customary arrangements regarding the performance of the Business between signing and closing.
In the past financial year, the Business sold more than 2.6 million hectolitres of Brisa in Colombia. Agua Brisa presentations of still, sparkling and flavoured waters are produced in 13 plants across Colombia and are currently sold in over 230,000 outlets throughout the country. The Brisa operations in Panama are excluded from the transaction.
Karl Lippert, president of Bavaria, commented: “The disposal of the water business will enable Bavaria to focus on its core strength, the brewing and distribution of beer and malted beverages. After closing, the transfer of assets and the commercial operation will be subject to a transition arrangement of several months, during which Bavaria will still be producing, selling and distributing Brisa.”
Bavaria is the largest beverage company in Colombia. Its brands include: Águila, Águila Light, Póker, Costeña, Pilsen, Club Colombia, Brava, Barena, Costeñita, Cola & Pola and Pony Malta.
