SABMiller Preparing For Rival Entry

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South African based brewing giant SABMiller is reportedly set to slash costs by US$34.17mn in order to free up cash to increase its marketing expenditure in view of Heineken's imminent entry into the country. The Dutch based brewer has joined forces with alcoholic drinks major Diageo in a 75:25 joint venture and will launch brands such as Amstel, Heineken and Guinness. BMI is forecasting the value of alcoholic drinks sales in South Africa to grow by 33.6% through to 2013.