Latin America's Bavaria is considering merging with an international brewer, it was reported today.

The president of the Colombian brewer was quoted by Reuters as saying: "Our shareholders have informed the company's management ... that they have been exploring a series of alternatives, which could include a merger or a search for a strategic partner."

Bavaria president Ricardo Obregon was speaking on local radio.

The Reuters report quoted unnamed sources as placing an enterprise value on Bavaria of more than US$5 billion after a bid premium.