SABMiller plc announces that its wholly owned subsidiary, SABSA Holdings Limited, has now completed the disposal of its entire shareholding in Tsogo Sun Holdings Limited ("Tsogo Sun") through a combination of:

• a placing of 293,896,315 ordinary shares at a price of ZAR25.75, which settled on 28 July 2014;
• a sale of 7,776,990 ordinary shares at a price of ZAR25.75 to members of Tsogo Sun's executive management team, which settled on 12 August 2014; and
• a repurchase by Tsogo Sun of SABMiller's remaining 133,584,599 ordinary shares, at a price of ZAR20.96, which settled on 28 August 2014 following the satisfaction of all conditions precedent, including the approval of Tsogo Sun's shareholders.

The total gross proceeds received from the above transactions were ZAR 10.6billion (US$ 1.0billion). 

Following these disposals, SABMiller no longer holds any ordinary shares in Tsogo Sun and accordingly the Tsogo Sun board has been restructured, with SABMiller's representatives on the board, Malcolm Wyman, Jamie Wilson and John Davidson, together with Tsogo Sun's deputy chairman, Jabu Mabuza, all having resigned from the Tsogo Sun board on 28 August 2014.

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Notes to Editors:

About SABMiller 
SABMiller plc is in the beer and soft drinks business.  We are the world's second largest brewing company and the leading or number two brewer in 95% of the markets where we operate. We are also one of the world's largest bottlers of Coca-Cola drinks and we produce a portfolio of wholly-owned soft drinks brands.
We are a FTSE-20 company, with shares trading on the London stock exchange, and we have a secondary listing on the Johannesburg stock exchange.  We operate in more than 80 countries with around 70,000 employees.

The group's brand portfolio includes leading local brands such as Aguila (Colombia), Castle (South Africa), Miller Lite (USA), Snow (China), Victoria Bitter (Australia) and Tyskie (Poland) as well as global brands such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch. Every minute of every day, more than 140,000 bottles of SABMiller beer are sold. 

In the year ended 31 March 2014, the group sold 318 million hectolitres of lager, soft drinks and other alcoholic beverages, generating group net producer revenue of US$26,719 million and EBITA of US$6,453 million. 

About Tsogo Sun
Tsogo Sun is a JSE-listed gaming, hotel and entertainment business with a vision to provide quality hospitality and leisure experiences at every one of its destinations. Tsogo Sun's portfolio comprises: (i) 14 gaming and entertainment destinations in six of South Africa's nine provinces; (ii) a total of 92 hotels, offering 14,557 rooms across all sectors of the market, from luxury to budget, in South Africa, the rest of Africa, the Middle East and the Seychelles; (iii) theatres, cinemas, restaurants and bars; and (iv) over 250 conference and banqueting facilities, including the Sandton Convention Centre.

For the year ended 31 March 2014, Tsogo Sun generated income of ZAR10,767 million and earnings before interest, tax, depreciation, amortisation, property rentals, long-term incentives and exceptional items (EBITDAR) of ZAR4,214 million. 

Enquiries:

SABMiller plc
t: +44 20 7659 0100

Catherine May
Director of Corporate Affairs
SABMiller plc
t: +44 20 7927 4709

Gary Leibowitz
Senior VP, Investor Relations
SABMiller plc
t: +44 20 7659 0119

Christina Mills
Director of Group Communications and Reputation
SABMiller plc
t: +44 78 2527 5605

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