SAB US$1bn BEI Equity Sale Set For Shareholder Approval

The value of SABMiller's proposed sale of 8.45% of its South African unit South African Breweries (SAB) under the country's Black Empowerment Initiative (BEI) has increased to ZAR7.3bn (US973mn), from about ZAR6bn, following share price gains since the landmark move was announced earlier in 2009. Setting industry targets for equity ownership, BEI is specifically aimed at affording greater control of Africa's largest economy to the black majority.

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