21 October, 2005

Colombia: The public share offer for Colombia’s biggest brewer to be held on December 5

The public share offer for the Colombia's biggest brewer, Bavaria, will be held on December 5, Colombia's Stock Market Superintendency said on October 19 according to Reuters.

SABMiller, the Anglo-South African beer giant is offering minority holders $19.48 per share as part of its takeover plan for Bavaria agreed with the Colombian company's controlling Santo Domingo family.London-based SABMiller in July announced a $7.8 billion stock-and-cash deal, including debt and interests in subsidiaries, to take over Bavaria and create the world's No. 2 brewer by volume.

Trading in Bavaria shares was suspended at the start of Thursday in anticipation of the announcement. They closed at 43,540 pesos ($19.06) per share on Wednesday.According to Colombian law the suspension will continue until the day after SABMiller publishes notice of the public offer in Colombian newspapers.

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