SABMiller leads race to buy Colombia's biggest bre
SABMiller leads race to buy Colombia`s biggest brewer
June 21, 2005
Brewing giant SABMiller was edging towards clinching a deal to buy Colombia`s biggest brewer, Bavaria, for $7 billion (about R47 billion), including debt, and hoped to wrap the deal up next month, sources close to the situation said yesterday.
London-listed SABMiller and Dutch firm Heineken are leading the race for South America`s second-largest brewer, but SABMiller is expected to offer Bavaria`s controlling Santo Domingo family better terms.
European-based brewers had been asked to put forward firm proposals to acquire the Bogota-based group before the end of this month, which could hasten the long-running deal process, the sources added.
Bavaria is worth around $6.8 billion, including about $1.7 billion worth of debt.
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