South African stocks skidded on Tuesday on the back of weaker global equities and as SABMiller fell on news it lost its licence to manufacture Amstel here.
The Johannesburg Top-40 index of blue-chip stocks dipped 0.68 percent to 23,246.82 points while the All-share index fell 0.61 percent to 25,853.05 points.
Read more at Reuters South Africa
Showing posts with label Amstel. Show all posts
Showing posts with label Amstel. Show all posts
Tuesday, March 13, 2007
SA beer war brews
Heineken snatches Amstel back from SAB Ltd, knocking 9% of its local beer sales
South African beer giant SAB Ltd has lost a forty-year-old brand and nearly a tenth of its domestic beer volumes overnight, as Heineken moved in to take back its control over Amstel Lager in South Africa. The aggressive move by Heineken, which came as a surprise to SAB Ltd, but which has been rumoured for over a year, marks the possible start to a beer war in the South African market.
Compared with the SAB's entrenched position in South Africa, Heineken is but a minnow. Through Brand House, a joint venture with Diageo, it represents about 2% of the South African beer market through its Heineken and Windhoek brands. But, says Coronation Fund Managers' Dirk Kotzé, with the addition of Amstel, this share is catapulted up to 10%.
Read more at MoneyWeb.co.za
South African beer giant SAB Ltd has lost a forty-year-old brand and nearly a tenth of its domestic beer volumes overnight, as Heineken moved in to take back its control over Amstel Lager in South Africa. The aggressive move by Heineken, which came as a surprise to SAB Ltd, but which has been rumoured for over a year, marks the possible start to a beer war in the South African market.
Compared with the SAB's entrenched position in South Africa, Heineken is but a minnow. Through Brand House, a joint venture with Diageo, it represents about 2% of the South African beer market through its Heineken and Windhoek brands. But, says Coronation Fund Managers' Dirk Kotzé, with the addition of Amstel, this share is catapulted up to 10%.
Read more at MoneyWeb.co.za
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