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.