25 May, 2005

Colombia: World Bank’s subsidiary acquires a 0.92% stake in Bavaria


The Corporación Financiera Internacional (IFC), a subsidiary of the World Bank, has become the owner of 0.92 % of Colombian brewery, Empresarial Bavaria. The shares were transferred officially to IFC on May 19. These 2,356,890 ordinary shares account for 0.92% of the entire share capital. These shares were additional emitted and the emission of share was approved by the Colombian Securities Commission in April, according to a report in La Republica newspaper.

About three years ago Bavaria got a US$ 30 million loan from IFC. It is this loan that has been converted into Bavaria shares.

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