The Colombian brewer Bavaria is to spend US$1 billion on driving business overseas and modernizing its plants, according to the website of the World Bank's private investment arm, the International Financial Corp. A timescale for the investment was not stipulated.   The IFC website said that Bavaria had asked it to inject US$100m into the company through a stock purchase agreement, and organise loans with other banks for $200m. According to the report the brewer is looking to make "selective acquisitions" in Central America and the Andean region.