UK: SABMiller in share offer for Peru's Backus
SABMiller has tabled an offer to buy 100% of the investment shares in Peru's largest brewer Backus & Johnston.
The London-based brewing giant yesterday (17 March) said the PEN2.47 a share offer priced the bid at US$400m. The offer will remain open for 10 days, SABMiller added.
Last July, SABMiller bought a controlling stake in Backus as part of its acquisition of Colombia's Bavaria, Latin America's second-largest brewer.
An SABMiller spokesman told just-drinks that the brewer had offered a "very fair price" for the shares.
He added: "This is part of the process that we're engaged in right across the Bavaria group to begin buying interests and to tidy up the group's corporate structure."
He said SABMiller would be making a similar move for minority interests in a brewery in Ecuador acquired as part of the Bavaria deal but declined to say when the company would table a bid.
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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AmBev Peru is to launch a new beer in the market that will bring competition to a market so far dominated by the monopoly of Union de Cervecerias Peruanas Backus & Johnston SAA, or Backus....
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