Participating Interests
Proportionally consolidated participating
interests
The companies listed below are proportionally consolida
ted because control of these companies is exercised joint
ly and directly by virtue of an agreement with the other
shareholders.
interest
Zagorka Brewery A.D.
Stara Zagora (Bulgaria)
48.6
Ariana Brewery A.D.
Sofia (Bulgaria)
43.6
Pivara Skopje A.D.
Skopje (Macedonia)
25.5
Brasseries du Congo S.A.
Brazzaville (Congo)
50.0
Asia Pacific Breweries (Singapore) Pte. Ltd.
Singapore
42.5
Shanghai Asia Pacific Co. Ltd.
Shanghai (China)
44.9
Hainan Asia Pacific Brewery Ltd.
Haikou (China)
42.5
SP Holdings Ltd.
Port Moresby (Papua New Guinea)
32.1
Vietnam Brewery Ltd.
Ho Chi Minh City (Vietnam)
25.5
Cambodia Brewery Ltd.
Phnom Penh (Cambodia)
34.0
DB Group Ltd.
Auckland (New Zealand)
32.7
Non-consolidated participating interests
carried at net asset value
Guinness Anchor Berhad
Petalingjaya (Malaysia)
10.8
Thai Asia Pacific Brewery Co. Ltd.
Bangkok (Thailand)
14.9
BrauHolding International AG
Munich (Germany)
49.9
Other non-consolidated participating
interests carried at cost
Quilmes International (Bermuda) Ltd.
Hamilton (Bermuda)
15.0
Cervejarias Kaiser S.A.
Rio de Janeiro (Brazil)
14.2
FINANCIAL STATEMENTS 2001
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