Ecuador: SABMiller announced tender offers for all of the shares in its three Ecuadorian subsidiaries
SABMiller PLC, the British brewer of beers such as Pilsner Urquell, said October 18 it offered to buy the shares it does not already own in three Ecuadorean businesses for a total of $88 million, Associated Press released October 18.
The company will pay $36.25 per share for the stock of all three businesses, SABMiller said in a statement.
SABMiller already owns 92.06 percent of Compania de Cervezas Nacionales C.A.; 72.34 percent of Cerveceria Andina S.A. and 92.19 percent of privately owned Agrilsa Agricola e Industrial S.A.
CCN is Ecuador's largest brewing business, and is located in Guayaquil. Andina is Ecuador's second largest brewing business and is located in Quito. Both companies produce SABMiller's full portfolio of Ecuadorean beers, including Pilsner, the country's leading lager.
SABMiller plans to merge the operations of CCN and Andina with operations in Guayaquil and Quito.
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