SABMiller chief ready for acquisitions

LONDON: SABMiller Plc Chief Executive Officer Graham Mackay said he's prepared to make acquisitions and forecast the beer industry will recover from the global recession at a sluggish pace.

The maker of Miller Genuine Draft and Grolsch has sufficient investor support to do a deal and enough room to take on debt, Mackay said, though he will refuse to pay a premium price given the distressed market.

"Nothing is stopping us from the right acquisition," the CEO of the London-based brewer said. "There is money available. Even if we had to raise capital, we think our shareholders would agree with it if it was the right acquisition."