SABMiller makes operational changes

Beverage giant SABMiller has announced the implementation of a number of organisational changes in its African operations, which took effect at the start of January as part of SABMiller's strategic alliance agreement with Castel.

The changes involve the combination of the operational management of the Castel and SABMiller businesses in Nigeria and Angola, with the Nigerian businesses being managed in future by SABMiller, and the Angolan businesses being managed by Castel.

The existing strategic alliance agreement, under which SABMiller has a 20% shareholding in Castel's other African beverage interests and Castel has a 38% shareholding in SABMiller's principal African holding company, remains in place.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Graham Mackay, Chief Executive of SABMiller said: "Our relationship with the Castel Group has gone from strength to strength over the decade that the strategic alliance has been in place.

"We believe that these operational changes will benefit our local businesses, our minority partners, and our customers and consumers in both Angola and Nigeria, and demonstrate both groups' long-term commitment to the alliance."

SABMiller's share price rose 0.17% to 2,336.5p by 15:14.

NR