Thank you for sharing!

Your article was successfully shared with the contacts you provided.
South African Breweries plc is going to need a bigger glass. The world’s fifth-largest beer producer recently bought eighth-ranked Miller Brewing Company from Philip Morris Companies Inc. for $3.6 billion in stock, putting SAB one step behind global market leader Anheuser-Busch Companies, Inc. In the deal, Philip Morris gained a 36 percent stake in the new company, SABMiller plc. SAB issued 430 million new shares to pay for Miller, and it assumed $2 billion of the company’s debt. The deal closed in July after winning the approval of SAB’s shareholders and U.S. and South African regulators. The newly merged brewers hope that their strengths will complement each other’s. While prominent in the U.S., Miller has little international presence. SAB has done well in developing regions like Africa and Eastern Europe. The 105-year-old company, which relocated to London in 1999, also hopes that the union will protect it from fluctuations in the rand, South Africa’s volatile currency. For acquiror South African Breweries plc (London) Cleary, Gottlieb, Steen & Hamilton (New York): Corporate: Peter Darrow, Edward Greene, William Groll, Victor Lewkow, special counsel Mitchell Rabinowitz, and associate Ethan Skerry. Tax: James Duncan, Leslie Samuels, and associates Jason Factor, Kristofer Hess, and Rachel Kleinberg. Antitrust: Mark Nelson. Employee benefits: Arthur Kohn, A. Richard Susko, and associate Anna Xanthos. Environmental: Janet Weller and associate Aliza Sperling. Intellectual property: special counsel Mauro Premutico and associates Van Nguyen and Chaim Saiman. Litigation: senior attorney Mary Watson. Real estate: Michael Weinberger and associate Mal Serure. (Darrow, Greene, Groll, Duncan, and Hess are in the firm’s London office; Rabinowitz, Nelson, Weller, and Sperling are in Washington, D.C.) Lovells (London): Corporate: John Davidson, Richard Lewis, Andrew Pearson, Charles Penney, Nigel Read, and associates Randal Barker, Pamela Buxton, Karla Dudek, Derek Jones, Bayo Odubeko, and Stephen Shapiro. Antitrust: Susan Bright and associates Peter Andrews and Simon Barnes. Tax: Daniel Friel and Joseph Gruber. Employee benefits: associate Jessica McMichael. (Penney and Gruber are in the firm’s New York office.) Lovells has worked on several deals with SAB since 1998, including the company’s 1999 listing on the London Stock Exchange. Werksmans (Johannesburg, South Africa): Corporate: Muhammed Sader, Angela Simpson, Carl Stein, Justin Stock, and Cari Versfeld. (Stock has since left the firm for London’s Freshfield Bruckhaus Deringer.) Werksmans, which has a long-standing relationship with SAB, worked on the company’s 1999 relocation to London from Johannesburg. For target Miller Brewing Company (Milwaukee) and parent Philip Morris Companies Inc. (New York) In-house: Philip Morris: Vice president and associate general counsel Martin Barrington. Miller: Senior vice president, general counsel, and secretary Michael Jones, associate general counsel Karen Ripley, and assistant general counsel Stephen Rogers. Wachtell, Lipton, Rosen & Katz (New York): Corporate: Andrew Nussbaum and associates Benjamin Fackler and Laura Munoz. Employee benefits: Michael Katzke and associate Jeremy Goldstein. Antitrust: Michael Byowitz and associate Michael Jahnke. Real estate: Robin Panovka. Wachtell, Lipton, which served as Philip Morris’s lead M&A counsel, has worked with the company for years. Sutherland Asbill & Brennan (Atlanta): Tax: J. Randall Buchanan, Reginald Clark, Paul Jacokes, Clifford Muller, W. Scott Wright, H. Karl Zeswitz, Jr., and associates Robert Chase, Karen Hague, John Hinding, John Hynes, and Amish Shah. Employee benefits: George Bostick, Carol Weiser, and associate David Kritz. (All are in the firm’s Washington, D.C., office except for Clark and Wright, who are in Atlanta.) Quarles & Brady (Milwaukee): Corporate: Michael Grebe, Michael Lappin, Quinn Martin, and associates Shawn Crawford and Sarah Hatch. Employee benefits: J. Paul Jacobson. Environmental: Thomas McElligott and associate Brian Lewallen. Intellectual property: Marta Levine and associate Heather Mager. Real estate: Michael Ostermeyer and associate Shawn Gould. Quarles & Brady has served as outside counsel to Miller since the 1930s. Hunton & Williams (Richmond): Corporate: Jerry Whitson and associate Susan Failla. Both are in the firm’s New York office. Webber Wentzel Bowens (Johannesburg): Corporate: Bruce Cleaver. Antitrust: Anthony Norton. Clifford Chance (London): Corporate: David Childs, Sarah Jones, and associates Ingrid Meldal-Johnsen, Brendan Moylan, and Michael Taylor. Tax: Douglas French and associate Nicholas Mace. Antitrust: Marleen van Kerckhove. (Van Kerckhove is in the firm’s Brussels office.) Clifford Chance has worked with Philip Morris since the 1960s. -Elisabeth Preis

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.