Pursuits
SABMiller to Sell $1.09 Billion Stake in Tsogo Sun
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SABMiller Plc said it will sell a $1.09 billion stake in South African hotel and casino operator Tsogo Sun Holdings Ltd. as the world’s second-biggest brewer looks to bolster beverage operations in Africa.
Following a review of its 39.6 percent holding in the Johannesburg-based company, SABMiller will divest the stake in a two-stage transaction involving a sale to institutional investors and a buyback of shares by Tsogo Sun, the maker of Peroni and Castle Lite said today in a statement.