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SABMiller Raising $968 Million Through Disposal
date:Jul 23, 2014
SABMiller has successfully raised ZAR7.6 billion (US$707 million) through sale of 293,896,315 ordinary shares in Tsogo Sun Holdings, the South African gaming, hotel and entertainment group, through a share placing. The balance of SABMillers 39.6% stake in in Tsogo Sun, being 133,584,599 ordinary shares, will be repurchased by Tsogo Sun, subject to Tsogo Sun shareholder approval, for an aggregate consideration of ZAR2.8 billion (US$261 million). SABMiller expects the Repurchase to be effective on

12/22 20:41