PERU: SABMiller buys up bulk of Backus shares
SABMiller has confirmed the acquisition of almost all of the shares in Backus & Johnston.
Speaking to just-drinks today (30 March), an SABMiller spokesperson said that 89.5% of the shares in the Peruvian brewer have been bought for US$361.6m. Earlier this month, SABMiller said that the PEN2.47-a-share offer priced the bid at US$400m.
Last July, SABMiller bought a controlling stake in Backus as part of its acquisition of Colombia's Bavaria, Latin America's second-largest brewer.
The spokesperson also said that the SABMiller has extended its offer for five days. "Most of the institutional stakeholders have sold up," the spokesperson said. "There are just a few retail shareholders outstanding."
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...
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SABMiller has agreed to acquire the Slovakian brewer Topvar. Topvar is located in the city of Topoľčany in Western Slovakia and sold 569,000 hectolitres of beer in 2004....
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