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Article: [ Philip Morris Cos.'s sale of Miller Brewing Co... ]
- Article from:
- Chicago Sun-Times
- Article date:
- May 31, 2002
- Author:
CopyrightCopyright 2002 Chicago Sun-Times. (Hide copyright information)
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Philip Morris Cos.'s sale of Miller Brewing Co. to South African
Breweries PLC leaves investors wondering whether new Chief Executive
Louis Camilleri will stay in the beer business or get out.
Philip Morris, parent company of Northfield-based Kraft Inc. and
the maker of Marlboro cigarettes and Miracle Whip salad dressing,
will own 36 percent of the combined company. South African Breweries,
to be renamed SABMiller, agreed to buy Miller for $5.6 billion in
stock and assumed debt to become the world's second-biggest brewer.
The sale keeps Philip Morris in the brewing business for at least
the next three years. Camilleri, CEO since last month, left open the
possibility of boosting the company's ...