SABMiller has bought a further stake in its South American brewing arm, Bavaria.

SABMiller, the world's number two brewer by volume, snapped up a 25.19% stake in Bavaria yesterday (5 December), taking its holding in the brewer to 96.96%.

The company offered US$19.48 a share for the stake, which was publicly listed on the Colombian Stock Exchange.

SABMiller bought Bavaria - the second-largest brewer in South America - in July in a deal worth US$4.8bn.