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PERU: SABMiller buys up bulk of Backus shares

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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."


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