Annual Report - SABMiller

132 Notes to the consolidated financial statements SABMiller plc Annual Report 2010Notes to the consolidated financial statements continued29. Acquisitions and disposals continuedMinority interestsThe following minority interests were acquired for cash consideration of US$1 million and non-cash consideration of US$1,197 million, generatingadditional goodwill of US$1,125 million. The purchase of shares from minorities in the consolidated cash flow statement includes deferredconsideration relating to purchases of minority interests in the prior year.Effective %holding afteracquisition of Form ofCompany % acquired minority interest consideration CountryKompania Piwowarska SA 28.1 100% Shares PolandCervecería San Juan SA 0.5 86% Cash PeruCervecería Nacional SA 0.1 97% Cash PanamaDisposalsDisposal of Miller subsidiary into the MillerCoors joint venture in the prior yearOn 30 June 2008, SABMiller plc and Molson Coors Brewing Company announced that they had completed the transaction to combine theUS and Puerto Rico operations of their respective subsidiaries, Miller and Coors, in a joint venture to create MillerCoors, a stronger, brand-ledUS brewer in the increasingly competitive US marketplace. MillerCoors began operating as a combined entity on 1 July 2008. SABMiller has a58% economic interest in MillerCoors and Molson Coors has a 42% economic interest. Voting interests are shared equally between SABMillerand Molson Coors, and each of SABMiller and Molson Coors has equal board representation. A profit of US$437 million arose on the disposalof the US and Puerto Rico operations of the Miller business into the MillerCoors joint venture. The profit was calculated as 58% of the fair valueof the business contributed to the joint venture by Coors Brewing Company less 42% of the value of net assets contributed to the joint ventureby SABMiller plc and transaction costs.The net assets contributed by SABMiller plc to the MillerCoors joint venture were comprised as follows:US$mGoodwill 3,998Intangible assets 232Property, plant and equipment 1,043Other non-current assets 117Non-current assets 5,390Current assets 414Overdraft (2)Other current liabilities (413)Provisions (15)Current liabilities (430)Other non-current liabilities (4)Provisions (734)Non-current liabilities (738)Net assets contributed to joint venture 4,636Other disposals during the prior yearOn 26 February 2009, the disposal of the Agua Brisa water business in Colombia was completed for cash consideration of US$92 million.On 26 March 2009, the disposal of the Bolivian soft drinks business was completed for cash consideration of US$27 million.The net assets disposed of for these disposals were comprised as follows:US$mNon-current assets 22Current assets 1 13Current liabilities (4)Non-current liabilities (1)Net assets 301 Including cash and cash equivalents of US$4 million.