South Africa's Plate Glass & Shatteprufe Industries (PGSI) said no agreement had been struck with a buyer on the sale of parent South African Breweries (SAB) stake in the glass manufacturer. "Nor is it likely that any agreement will be reached within the near future," PGSI said, reacting to recent media reports that SAB will announce the sale of its non-core holding for more than £400m. "The reports are entirely speculative regarding the identity of the prospective buyer, the sum involved & the likely timing of an announcement," the firm said in a statement. Recent reports have said that SAB, which has moved its share listing to London from Johannesburg in the hope of doing major deals in the brewing industry, is expected to announce the sale of PGSI to its management.
