COLOMBIA: Bavaria 2001 net profit falls 56.2%
Leading Colombian, drinks maker and brewer Bavaria has reported a 56.2% fall in 2001 net profits compared with the previous year.
Bavaria posted 2001 net profits of 187.4 billion pesos (US$81.0m), compared with 428.2 billion pesos in 2000, a result largely expected by the market.
Bavaria, which controls 95% of Colombia's beer market, has had a troubled year, which included a strike, which stretched into the first two months of last year. There was also a major restructuring of the company which saw several plants shut down and job losses, the result of declining demand.
Good news came in the form of exports, and Bavaria did expand into Panama, through the acquisition of the country's largest brewer.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
The race for ownership of Empresarial Bavaria could be settled within the next few weeks, according to press reports....
Brewers SABMiller and Heineken are thought to be close to making another proposal to acquire the Latin American business Bavaria....
Speculation is growing that a bid for Empresarial Bavaria could come in the next two weeks....
InBev believes that other companies are more interested in Bavaria than it is....
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
Shares in the UK-based brewing group, Scottish & Newcastle (S&N), rose on the back of a rumour that the company has pulled out of the race to acquire the Colombian brewer, Bavaria, The Times has repor...
Bavaria has authorised a five-year syndicated loan of up to US$250m....
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