Participating Interests
Proportionally consolidated participating interests
The companies listed below are proportionally consolidated because control of these companies is exercised jointly
and directly by virtue of an agreement with the other shareholders.
interest
BrauHolding International AG
Munich (Germany)
49.9
Zagorka Brewery A.D.
Stara Zagora (Bulgaria)
48.0
Ariana Brewery A.D.
Sofia (Bulgaria)
47.5
Pivara Skopje A.D.
Skopje (Macedonia)
27.3
Brasseries du Congo S.A.
Brazzaville (Congo)
50.0
Asia Pacific Breweries (Singapore) Pte. Ltd.
Singapore
42.5
Shanghai Asia Pacific Brewery 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
Petaling Jaya (Malaysia)
10.8
Thai Asia Pacific Brewery Co. Ltd.
Bangkok (Thailand)
14.9
Florida Bebidas S.A.
San José (Costa Rica)
25.0
Other non-consolidated participating
interests carried at cost
Quilmes International (Bermuda) Ltd.
Hamilton (Bermuda)
15.0
Cervejarias Kaiser Brasil S.A.
Rio de Janeiro (Brazil)
20.0
FINANCIAL STATEMENTS 2002
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