The regulator is investigating allegations that Bavaria has colluded with the Venezuelan group, Cisneros, to take control of Backus without triggering a full public offer. However, Bavaria’s Mauricio Restrepo said the fact that Cisneros and Bavaria had acquired their stakes at more or less the same time was a coincidence.
PERU/COLOMBIA: Bavaria speaks out on Conasev probe
The financial chief of Colombian brewer, Bavaria, has spoken out on the investigation which the Peruvian regulator, Conasev, is undertaking into stake-building by a number of companies in the Peruvian brewer, Backus. He also said that while the company has the cash to fund expansion, it had put its expansion plans on hold for at least 18 months.