South America: InBev said it is not a frontrunner in Bavaria deal
InBev, the world's biggest brewer, said on June 10 it was not a frontrunner in the auction for South America's second biggest brewer, Bavaria, and had no plans to make a "transforming" deal in the brewing world. "It is very clear that there are other people out there substantially more interested in Bavaria than we are," InBev Chief Executive John Brock told a briefing in London.
Belgium-based InBev, which brews Stella Artois, Beck's and Brazilian Brahma, had shown interest in Colombia's Bavaria but was not thought to be a frontrunner after Interbrew bought South America's biggest brewer, Brazil-based AmBev, to form InBev last year, sources close to the auction said. InBev shares rose by 1.7 percent to 27.97 euros by 1215 GMT.
Brock said the group's strategy was to look for expansion in three of the world's top five beer markets -- China, Russia and Germany -- and also "bolt-on" acquisitions in Latin America.
"There are no transforming deals I wish to comment on. We have no plans for a transforming deal," Brock added. He declined to comment whether the Bavaria deal would be described as transforming, but analysts said Bavaria was a big regional brewing deal rather than a transforming one such as last year's Interbrew-AmBev merger.
London-based SABMiller Plc and Dutch Heineken NV, the third and fourth biggest brewers, are leading the race for Bavaria, which is valued at around $6.4 billion including $1.7 billion of debt, the sources close to the ongoing auction said.
The Bogota-based brewer, which has dominant market shares in Colombia, Ecuador, Peru and Panama and is 70 percent controlled by the Santo Domingo family is looking to link up with an international brewing group in a process that might reach a conclusion over the next few months, they added.
The Budweiser-brewer Anheuser-Busch Cos has taken an interest in Bavaria, but the U.S.-based second largest brewer like InBev is not though to be a frontrunner. Bavaria's beer brands include Aguila, Cristal and Pilsner beers.
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