https://www.engineeringnews.co.za

SA Breweries to launch new B-BBEE scheme, opening up opportunity for R5.4bn stake in AB InBev

7th April 2021

By: News24Wire

  

Font size: - +

Beermaker South African Breweries (SAB) has announced that its broad-based black economic empowerment (B-BBEE) scheme SAB Zenzele, will be replaced by the new 'Zenzele Kabili', once it reaches maturity in May. 

SAB Zenzele, which was launched in 2010, will have reached a maturation value of R9.7 billion in May, and shareholders who invested R100 at the scheme’s inception, will receive a R77 518 pre-tax pay out when it unwinds next month.

The new scheme will give taverners, bottle store owners, retailers and SAB employees an opportunity to own stakes in the world's largest beermaker.

“The company is offering SAB Zenzele Retailer Shareholders the opportunity to reinvest a portion of their remaining proceeds into a replacement B-BBEE ownership transaction through the SAB Zenzele Kabili scheme that will own R5.4 billion worth of AB InBev Shares,” said SAB in a statement.

Zenzele Kabili shareholders will collectively own R5.4 billion of the beermaker’s Belgium based parent, AB InBev and will be listed on the JSE’s B-BBEE segment to open up ownership to other B-BBEE investors including SAB employees. 

SAB said the old scheme was meant to unwind in March 2020 but had been delayed by Covid-19 restrictions, that resulted in the company not being able to hold its shareholder scheme meeting. However, the company decided that each Zenzele retailer shareholder would receive a pay-out that amounted to 77.4% of the calculation of their right and entitlement from the unwinding, in April 2020. 

In an address to shareholders, Zenzele chairperson Penuell Maduna said the new scheme, Zenzele Kabili, will allow shareholders who reinvest to receive 25% in annual dividends and not have to wait for a pay-out after 10 years.

Edited by News24Wire

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.056 0.864s - 145pq - 6rq
Subscribe Now