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SABMILLER COMPELTES TSOGO SUN DISPOSAL FOR R10.6BN

SABMiller (SAB) has completed the transaction whereby it disposed of its entire shareholding in Tsogo Sun Holdings (TSH)‚ the group said

The transaction was done through the placing and selling of ordinary shares at R25.75 per share with Tsogo Sun repurchasing SABMiller’s remaining 133-million shares at R20.96.

The total gross proceeds received from the above transactions were R10.6bn‚ or $1bn. Following these disposals‚ SABMiller no longer held any ordinary shares in Tsogo Sun‚ the group said.

Source: eProp.co.za