SABMiller invests in Peru's Backus shares
Says that purchasing 100% of the investment shares would cost it around $400-million.
31/03/06 Brewing giant SABMiller has bought 89,5% of the investment shares of Peru's largest beer maker, Backus & Johnston, for $361,6-million, traders have said.
SABMiller in Peru declined to comment on the transaction on Wednesday.
The London-based brewer made the offer on the Lima stock exchange for 12 trading days for 100% of the investment shares of Backus at a price of 2,47 soles per share in cash. That was a 20% premium on the Backus investment share price before the offer was announced.
Private pension funds were the main holders of Backus' investment shares, which do not have voting rights but do give shareholders dividends, traders said.
SABMiller has said that purchasing 100% of the investment shares would cost it around $400-million.
When SABMiller last year completed its acquisition of Colombian-based Bavaria, Backus become an indirect subsidiary of SABMiller.
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