S&N to bid for GEB
Britain's biggest brewer linked with move for Colombian brewer and beverages group that could fetch $8 billion.
01/03/05 Britain’s biggest brewer, Scottish & Newcastle (S&N) has emerged as a bidder for Grupo Empresarial Bavaria (GEB), the Colombian brewer and beverages group that could fetch $8 billion.
News of the interest surprised the market as the company had previously shown little interest in the South American market. At last week’s annual results, Tony Froggatt, the new chief executive, gave no hint of any interest in GEB and focused on growth potential in China, India and Eastern Europe.SABMiller and InBev, two larger rivals, are likely to be the most serious contenders for Bavaria.
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