Clicac had originally ruled that the Bavaria takeover would inhibit competition and in response to the appeal said: “In no way has the company (Bavaria) been able to show in its appeal that the cost savings made from the transaction would be transferred to the consumer or that there would competition to discipline the market.” The commission added that the takeover would cost Panamanian consumers up to $23m a year in higher beer prices.
PANAMA: Bavaria appeal rejected
Panama's competition commission, Clicac, has rejected an appeal by the Colombian brewing force, Bavaria, against an earlier ruling which blocked its takeover of the Panamanian brewer, Baru-Panama.