Lovells advises SA Breweries
Relisting
February 17, 1999 at 07:03 PM
1 minute read
Lovell White Durrant has become the latest City firm to pick up a new Ftse-100 client after the world's fourth-largest brewing group launched its pathfinder prospectus for its March float on the London exchange.
South African Breweries will have a market capitalisation in the region of £4bn. The first issue will raise between £150m and £200m. The company is relisting to access London's fluid equity markets and will use the capital to fund its planned expansion in emerging markets.
Lovells' team was led by Daniel Mace and includes corporate partners John Davidson and Lawrence Garside and tax partner Daniel Friel. Mace said: "We gained the client about a year ago and we have been working with them ever since. It was a beauty parade that we won."
Linklaters is acting for investment bank Robert Fleming, the lead financial adviser in the deal.
South African Breweries is the latest of a wave of South African companies relisting in London. Two weeks ago, Slaughter and May picked up South Africa's largest life assurer Old Mutual, which announced plans to relist in the summer.
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