/ 27 April 1999

SAB BIDS FOR SPANISH BREWER?

SOUTH African Breweries (SAB) has made an offer to buy Spanish beer brewer Cruzcampo, according to the Sunday Times of London. The bid price is unknown. Offers also came from Spanish brewer Damm and Heineken of the Netherlands. An acquisition by SAB is not likely to be blocked by Spanish legislation and could be a stumbling block for European breweries. Cruzcampo controls about 25% of the Spanish beer market. An SAB spokesman labels the report “no more than rumour” but says it is no secret that SAB, like other major brewers, is on the lookout for acquisitions.