18 June, 2005

Colombia: SABMiller, Heineken are to make new proposals to buy Bavaria

SABMiller and Heineken are expected to make fresh proposals before end-June to buy Grupo Empresarial Bavaria, Financial Times said on June 16. Dow Jones reported on 15 June that there is a deadline to present offers for the Colombian brewer, citing a person familiar with the situation. However the deadline was not communicated.

The potential USD 7 billion sale of the Colombian brewer is apparently moving into an advanced stage, with both suitors having been asked to renew their interest, the newspaper added.

A bidding war could push the price of the Colombian brewer as high as USD 9 billion, according to analysts estimations .

Although Bavaria has said it is not up for sale, but would consider a merger, reports over the last few months have linked SABMiller, Heineken, Scottish & Newcastle and InBev with making a bid for the brewer. SABMiller is widely thought to be the front runner. InBev distanced itself from talk of a bid late last week, while shares in S&N rose last month on talk that it was pulling out of the race.

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