SABMiller, the world’s second largest brewing company, is to divest its 39.6 per cent interest in South African hotel and casino operator Tsogo Sun in a transaction valued at approximately US$1.0bn.

SABMiller said it took the decision to sell its shareholding after completing a strategic review in cooperation with Tsogo Sun, in which it has been a shareholder since 2002 after transferring its gaming and hotel assets to the African operator as part of a landmark Black Economic Empowerment transaction.

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