Peru: SABMiller offer to acquire class I non-voting stock in Peru
SABMiller plc announced that, on March 16, 2006, it made an offer on the Lima Stock Exchange for 100% of the investment shares (class I non-voting stock) of Unión de Cervecerías Peruanas Backus & Johnston S.A.A. ("Backus"), at a cash price of Peruvian nuevos soles 2.47 per share (“the Offer”).
The Offer will remain open for tender for ten trading days. Assuming 100% acceptance of the Offer, at current exchange rates, SABMiller’s cash requirement for the Offer is expected to be approximately US$400 million.
On October 12, 2005, SABMiller announced the completion of the merger through which it acquired a controlling interest in Bavaria, the second largest brewer in South America. As a result of the merger, Backus became an indirect subsidiary of SABMiller.
Backus is Peru's largest brewer and is listed on the Lima Stock Exchange.
SABMiller plc is one of the world’s largest brewers with brewing interests or distribution agreements in over 60 countries across five continents. The group’s brands include premium international beers such as Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market leading local brands. Outside the USA, SABMiller plc is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2005, the group reported US$2,194 million pre-tax profit and a turnover of US$14,543 million on a UK GAAP basis. SABMiller plc is listed on the London and Johannesburg stock exchanges.
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