Annual Report - SABMiller

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140 Notes to the consolidated financial statements SABMiller plc Annual Report 2010Notes to the consolidated financial statements continued33. Principal subsidiaries, associates and joint venturesThe principal subsidiary undertakings of the group as at 31 March were as follows:Effective interest inordinary share capitalName Country of incorporation Principal activity 2010 2009CorporateSABMiller Holdings Ltd United Kingdom Holding company 100% 100%SABMiller Finance BV 1 Netherlands Holding company 100% 100%SABSA Holdings (Pty) Ltd South Africa Holding company 100% 100%SABMiller Africa and Asia BV 1 Netherlands Holding company 100% 100%SABMiller International BV Netherlands Trademark owner 100% 100%SABMiller Latin America Ltd United Kingdom Holding company 100% 100%Latin American operationsBavaria SA 2 Colombia Brewing/Soft drinks 99% 99%Cervecería Uníon SA Colombia Brewing 98% 98%Cervecería del Valle SA Colombia Brewing 99% 99%Union de Cervecerías Peruanas Backus y Johnston SAA 2 Peru Brewing 93% 93%Cervecería San Juan SA 2 Peru Brewing/Soft drinks 86% 86%Cervecería Nacional (CN) SA 2 Ecuador Brewing 96% 95%Latin Development Corporation 3 Panama Holding company – 99%Cervecería Nacional SA 2 Panama Brewing 97% 97%Bevco Ltd British Virgin Islands Holding company 100% 100%Cervecería Hondureña, SA de CV Honduras Brewing/Soft drinks 99% 99%Industrias La Constancia, SA de CV El Salvador Brewing/Soft drinks 100% 100%European operationsSABMiller Europe BV 1 Netherlands Holding company 100% 100%SABMiller Holdings Europe Ltd United Kingdom Holding company 100% 100%S.p.A. Birra Peroni Italy Brewing 100% 100%Ursus Breweries SA Romania Brewing 99% 99%Compania Cervecera de Canarias SA Spain Brewing 51% 51%Dreher Sörgyárak Zrt Hungary Brewing 100% 100%SABMiller RUS LLC Russia Brewing 100% 100%Kompania Piwowarska SA 4 Poland Brewing 100% 72%Plzeňský Prazdroj as Czech Republic Brewing 100% 100%Miller Brands (UK) Ltd United Kingdom Sales and distribution 100% 100%Pivovary Topvar as Slovakia Brewing 100% 100%Grolsche Bierbrouwerij Nederland BV Netherlands Brewing 100% 100%CJSC Sarmat Ukraine Brewing 100% 100%SABMiller Netherlands Cooperative WA Netherlands Holding company 100% 100%North American operationsSABMiller Holdings Inc USA Holding company 100% 100%Miller Brewing Company USA Holding company 100% 100%African operationsSABMiller Africa BV Netherlands Holding company 62% 62%SABMiller Botswana BV Netherlands Holding company 62% 62%SABMiller (A&A) Ltd United Kingdom Holding company 100% 100%SABMiller Investments II BV Netherlands Holding company 80% –Accra Breweries Ltd 2 Ghana Brewing 43% 43%Ambo International Holdings Ltd Mauritius Holding company 60% –Ambo Mineral Water Share Company Ethiopia Soft drinks 40% –Botswana Breweries (Pty) Ltd Botswana Sorghum brewing 31% 31%Cervejas de Moçambique SARL 2 Mozambique Brewing 49% 49%Coca-Cola Bottling Luanda SARL Angola Soft drinks 28% 28%Coca-Cola Bottling Sul de Angola SARL Angola Soft drinks 37% 37%Chibuku Products Ltd Malawi Sorghum brewing 31% 31%Heinrich’s Syndicate Ltd Zambia Soft drinks 62% 62%Kgalagadi Breweries (Pty) Ltd Botswana Brewing/Soft drinks 31% 31%
SABMiller plc Annual Report 2010 Notes to the consolidated financial statements 14133. Principal subsidiaries, associates and joint ventures continuedEffective interest inordinary share capitalName Country of incorporation Principal activity 2010 2009African operations continuedLesotho Brewing Company (Pty) Ltd Lesotho Brewing/Soft drinks 24% 24%National Breweries plc 2 Zambia Sorghum brewing 43% 43%Nile Breweries Ltd Uganda Brewing 60% 60%Pabod Breweries Ltd Nigeria Brewing 57% 57%Rwenzori Bottling Company Ltd Uganda Soft drinks 80% –Southern Sudan Beverages Ltd Sudan Brewing 80% 80%Swaziland Brewers Ltd Swaziland Brewing 37% 37%Tanzania Breweries Ltd 2 Tanzania Brewing 33% 33%Voltic International Inc British Virgin Islands Holding company 80% 80%Voltic (GH) Ltd Ghana Soft drinks 80% 80%Voltic Nigeria Ltd Nigeria Soft drinks 80% 80%Zambian Breweries plc 2 Zambia Brewing/Soft drinks 54% 54%Asian operationsSABMiller Asia BV Netherlands Holding company 100% 100%SABMiller (Asia) Ltd Hong Kong Holding company 100% 100%SABMiller (A&A 2) Ltd United Kingdom Holding company 100% 100%SABMiller India Ltd India Holding company 100% 100%Skol Breweries Ltd India Brewing 99% 99%SABMiller Breweries Private Ltd India Brewing 100% 100%SABMiller Vietnam Company Ltd Vietnam Brewing 100% 100%South African operationsThe South African Breweries Ltd South Africa Brewing/Soft drinks/Holding company 100% 100%The South African Breweries Hop Farms (Pty) Ltd South Africa Hop farming 100% 100%The South African Breweries Maltings (Pty) Ltd South Africa Maltsters 100% 100%Appletiser South Africa (Pty) Ltd South Africa Fruit juices 100% 100%1 Operates and resident for tax purposes in the United Kingdom.2 Listed in country of incorporation.3 This entity was merged into Bavaria SA on 27 April 2009.4 SABMiller Poland BV, a wholly owned subsidiary of the group, held 100% of Kompania Piwowarska SA at 31 March 2010 (31 March 2009: 71.9%).The group comprises a large number of companies. The list above includes those subsidiary undertakings which materially affect the profit ornet assets of the group, or a business segment, together with the principal intermediate holding companies of the group. With the exception ofthose noted above, the principal country in which each of the above subsidiary undertakings operates is the same as the country in which eachis incorporated.Where the group’s nominal interest in the equity share capital of an undertaking is less than 50%, the basis on which the undertaking is a subsidiaryundertaking of the group is as follows:African operationsThe group’s effective interest in the majority of its African operations was diluted as a result of the disposal of a 38% interest in SABMiller AfricaBV on 1 April 2001, in exchange for a 20% interest in the Castel group’s African beverage interests. Investments in new territories are generallybeing made with the Castel group’s African beverage operations on an 80:20 basis. The operations continue to be consolidated due to SABMillerAfrica BV’s and SABMiller Investments II BV’s majority shareholdings, and ability to control the operations.Botswana Breweries (Pty) Ltd and Kgalagadi Breweries (Pty) LtdSABMiller Africa holds a 40% interest in each of Botswana Breweries (Pty) Ltd and Kgalagadi Breweries (Pty) Ltd with the remaining 60% interestin each held by Sechaba Brewery Holdings Ltd. SABMiller Africa’s shares entitle the holder to twice the voting rights of those shares held bySechaba Brewery Holdings Ltd. SABMiller Africa’s 10.1% indirect interest (2009: 10.1%) is held via a 16.8% interest (2009: 16.8%) in SechabaBrewery Holdings Ltd.Lesotho Brewing Company (Pty) Ltd (Lesotho Brewing)SABMiller Africa holds a 39% interest in Lesotho Brewing with the remaining interest held by a government authority, the Lesotho NationalDevelopment Corporation (51%), and the Commonwealth Development Corporation (10%). Lesotho Brewing is treated as a subsidiary undertakingbased on the group’s ability to control its operations through its board representation. The day to day business operations are managed inaccordance with a management agreement with Bevman Services AG, a group company.Coca-Cola Bottling Luanda SARL (CCBL)SABMiller Africa is the largest shareholder in CCBL with a 45% holding. Management control is exercised through a contractual agreementwith Bevman Services AG, a group company.Overview Business review Governance Financial statements Shareholder information
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Page 126 and 127: 124 Notes to the consolidated finan
Page 146 and 147: 144 Independent auditors’ report
Page 148 and 149: 146 Notes to the company financial
Page 158 and 159: 156 Five-year financial review SABM
Page 160 and 161: 158 Definitions SABMiller plc Annua
Page 162 and 163: 160 Definitions SABMiller plc Annua
Page 164 and 165: 162 Shareholders’ diary SABMiller
Page 166 and 167: 164 Cautionary statement SABMiller
Page 168: Annual Report 2010This report is al
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Annual Report - SABMiller

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