BEER giant South African Breweries (SAB) has acquired a controlling 76%- interest in Mysore Breweries Limited through its subsidiary company SAB India (SABI), the company said on Thursday. It paid $17,6-million dollars, or 500 rupees per share, for the stake. Under the terms of Securities and Exchange Board of India regulations, a simultaneous public offer will be made to the MBL minority shareholders. MBL will give SABI access to the southern Indian beer markets of Maharashtra, Karnataka and Andhra Pradesh — three of the four largest beer consuming states in India. SAB chief executive Graham Mackay said: “MBL complements SAB’s existing operations in India and will provide substantial opportunities for future expansion in the country, which with its population of over one billion people and low per capita beer consumption, offers significant growth potential.” SAB is listed on both the London and the Johannesburg Stock Exchanges and has operated in India since October 2000, when it bought the Narang Brewery, located near Lucknow in the state of Uttar Pradesh. The South African company is the fifth-largest brewer in the world, according to statistics released by liquor trade magazine, Impact International in New York just under a year ago, an SAB information specialist said. Meanwhile, SAB said on Friday it had bought a controlling interest in Nile Breweries of Uganda from the Madhvani group of companies. SAB said in a statement the purchase meant it now owned 93,1% of the Ugandan brewer, which it already managed on behalf of shareholders. – AFP, Reuters