The Managing Director of SABMiller's African division bought a round of shares just one day before the drinks giant announced it has signed a definitive transaction agreement with Anadolu Group and Anadolu Efes.
The agreement allows the firm to form a strategic alliance between the firm's divisions in Turkey, Russia, the Commonwealth of Independent States (CIS), Central Asia and the Middle East.
The terms of the agreement, announced back in October, mean that SABMiller will now transfer its Russian and Ukranian beer divisions (valued at $1.9bn) to Anadolu Efes, the fifth-largest European brewer and the world's sixth-largest Coca-Cola bottler. In return, SABMiller will hold a 24% equity stake in Andolu Efes.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Mark Bowman, 45, purchased 963 shares at 2,382.845p each.
Just a few days ago the brewer reported that its financial performance for the final quarter of 2011 had been in line with expectations.
However, the European and North American divisions were noticeably weak, with larger volumes in Europe falling 2% while in the US sales were down 3.3%.
Top Director Buys
Immupharma (IMM)
Director name: Mr Ajay Agrawal
Amount purchased: 62,169 @ 80.00p
Value: £49,735
Immupharma (IMM)
Director name: Dr Franco Di Muzio
Amount purchased: 60,950 @ 81.00p
Value: £49,370
Stobart Group Ltd. (STOB)
Director name: Mr Jesper Kjaedegaard
Amount purchased: 22,000 @ 122.80p
Value: £27,016
Mission Marketing Group (TMMG)
Director name: Mr Dylan Bogg
Amount purchased: 100,000 @ 15.12p
Value: £15,120
Mediterranean Oil & Gas (MOG)
Director name: Mr Miles Donnelly
Amount purchased: 225,000 @ 5.30p
Value: £11,925
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
