SAB, Grolsch seek approval for deal

Global brewing giant SABMiller (SAB) and Koninklijke Grolsch NV said on Tuesday that they will submit a request for approval of the offer memorandum in respect of the SABMiller offer for Grolsch to the Dutch authority for the financial markets this week.

On November 19 the two groups announced they had reached conditional agreement regarding the recommended public cash offer by SABMiller for all

outstanding shares of Grolsch at an offer price of €48,25 per share.

SABMiller said it would finance the offer through financial resources available to the SABMiller Group, which include cash, committed facilities and its commercial paper programme.

In its most recent annual report for the year ended March 2007, SABMiller had total shareholders’ equity of $14,406-billion, cash and cash equivalent investments of $481-million and $3,426-billion in undrawn committed borrowing facilities.


At end September 2007, the date of its interim results, SABMiller had total shareholders’ equity of $15,580-billion and cash and cash equivalent investments of $269-million.

The offer memorandum is expected to be published in early January 2008. – I-Net Bridge

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