Time running out for investors to trade in SABMiller on JSE
IF ALL goes to plan October 5 will be the last day investors will be able to trade in the oldest industrial company on the JSE.SABMiller — founded in 1895 and listed in 1897 — will disappear from the board in early October, if SABMiller and Anheuser-Busch InBev (AB InBev) shareholders approve the merger of the two beer giants.All will not be lost to South African investors. The 50% or so of SABMiller’s operations that have not been sold off in a bid to secure regulatory approval, will be absorbed by AB InBev and accessible through that company’s secondary listing on the JSE. The listing of the combined entity will commence on October 11.Last week company sources said SABMiller shareholders could expect to receive payment for their shares in late October.Before the shareholders vote on the transaction on September 28, a UK court will determine whether there are two sets of shareholders requiring two different votes.Last week when it announced it was recommending the AB InBev offer, t...
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