SABMiller CEO defeated, but R328m payday will salve his wounds

My friend who works at SABMiller and many of the 69 000 like him around the world, will be polishing their CVs after yesterday’s news the Great Enemy has conquered South Africa’s brewing giant.

The battle was short and sharp, with the SA company’s defences turning out to be little more than a way to extract R200bn extra from AB Inbev.

Making the world’s biggest beer company pay up won’t endear SABMiller CEO Alan Clark to his new employers. But Clark won’t lose sleep over his own financial future.

Small print in the group’s 2015 annual report discloses that he owns 362 960 shares, a third of which were received in the last financial year. This stash can now be turned into cash of R328m (£16m) thanks to the generosity of his former arch enemies.

The remaining challenge for the US/Belgian brewing giant is overcoming nationalistic interests of the South African Government. There is sure to be kickback which may even end up with the local interests of SABMiller being excluded from the transaction.

Although that would please my pal, it won’t remove sadness that comes with the loss of a country losing its only true Global Champion.

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