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June 28, 2001 		Feedback  
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South African Breweries buys Mysore Breweries stake

South African Breweries said on Thursday it had bought a 76 per cent stake in India's third biggest brewer, Mysore Breweries Ltd, for $17.6 million.

The deal gives the London-listed company control of two breweries with a capacity of 480,000 hectolitres and a foothold in India's southern, main beer-consuming states.

SAB said it was making a simultaneous offer for the shares held by the minority shareholders in MBL, which is listed on the Bangalore Stock Exchange.

SAB, which has a market value of about 4.2 billion pounds, said it would pay for the acquisition out of existing resources.

The acquisitive SAB has been tipped by analysts as a favourite to buy Bass Brewers from Belgium's Interbrew.

Interbrew beat SAB to clinch a 2.3 billion pound deal for Bass Brewers last August but the British government has ordered the Belgian brewer to sell the business on competition grounds.

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