PERU: Massive mystery share transaction for Backus
A block of shares in Union de Cervecerias Backus & Johnston changed hands yesterday for US$43m, according to market sources reported by Reuters today. The price of the transaction was 41% above the stock's closing price on Friday, but the buyer and seller were not known.
One source said the transaction, brokered by BBVA Continental SAB, was made at PEN93 (US$27.66), up from Friday's close of PEN66.
A spokesman for Backus declined to comment on the claim, while Backus' owner, Columbia's Bavaria was unavailable for comment as Monday was a public holiday in the country.
The source also said that the trade was for 1,599,257 A-class shares with voting rights.
The Peruvian brewer announced last week that it will offer to swap its B-class and investment shares for a new class of non-voting preference ones. A date was not set for the swap.
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....
- SABMiller & Meantime: Notes for the New Owner
- Comment - How to Target Cognac's Mok Generation?
- Focus - The Prosecco shortage that isn't
- Analysis - The Value of Prosecco
- Analysis - Keurig Kold fails to impress
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo takes Baileys, Gordon's marketing in-house
- Carlsberg cuts 180 staff
- Suntory to buy Japan Tobacco beverage unit
- Mixto Tequila poised for "golden age"
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Africa: The Final Frontier for Beer
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review