E-Malt.com News article: Netherlands: SABMiller and Grolsch to request memorandum approval in the takeover deal

Global brewing giant SABMiller and Koninklijke Grolsch NV said 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 (Autoriteit Financiele Markten, AFM) this week, Fin24 reported December 18.

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 includes 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 US$14.406bn, cash and cash equivalent investments of $481m and $3.426bn in undrawn committed borrowing facilities.

At end September 2007, the date of its interim results, SABMiller had total shareholders' equity of $15.580bn and cash and cash equivalent investments of $269m.

The offer memorandum is expected to be published in early January 2008.


19 December, 2007