World’s second brewer, SABMiller, had made moves to takeover competitor, Heineken, but was snubbed by the Dutch brewing giant, it emerged at the weekend.

According to news reports, the family-owned Heineken apparently told the British-based rival with South African origins, SABMiller, that it wanted to uphold the “heritage and identity” of Heineken as an independent firm.

“The Heineken family and Heineken N.V.’s management are confident that the company will continue to deliver growth and shareholder value,” Heineken said the weekend.

It said it was because if this that SABMiller’s bid became “non-actionable.” It did not disclose SABMiller’s offer price.

Heineken is the third biggest brewer in the world, boosted by its Heineken brand and the ever-increasing sales of Amstel, Sol, Dos Equis and others. This deal, had it gone through, could have made SABMiller, the biggest brewer in the world, toppling the US-based Anheuser Busch from the top spot.

SABMiller recently completed the disposal of its entire shareholding in gaming and hotel group, Tsogo Sun, to focus on its core business of brewing alcohol beverages.

SABMiller said it had placed 293.8 million ordinary shares at a price of R25.75 and sold 7.7 million ordinary shares also at a price of R25.75 to members of Tsogo Sun’s executive management team.

Tsogo Sun also repurchased SABMiller’s remaining 133.5 million ordinary shares at R20.96 after the satisfaction of all conditions precedent, including the approval of Tsogo Sun’s shareholders.

The total gross proceeds received from the above transactions were R10.6 billion ($ 1.0 billion).

SABMiller no longer holds any ordinary shares in Tsogo Sun. SABMiller had sustained Tsogo Sun as a shareholder since 2002. This was after the brewer moved the standing gaming and hotel assets into Tsogo Sun as a black economic empowerment (BEE) transaction.