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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Bavaria has authorised a five-year syndicated loan of up to US$250m....
The Corporación Financiera Internacional (IFC), an investment arm of the World Bank, has acquired a stake in Empresarial Bavaria....
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
Molson Coors will make a decision about its Brazilian operations soon, according to the brewer's head....
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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