Peru: AmBev agreed to sell 25% stake in AmBev Peru to Grupo Romero

Brazilian AmBev (Compania de Bebidas de las Americas), the world's No. 5 brewer, has agreed to sell a 25 % stake in its Peruvian operation to local conglomerate Grupo Romero, the company said on March 9, according to Reuters.

"This operation will allow AmBev to benefit from Grupo Romero's know-how, strengthening AmBev Peru," the company said in a statement.

AmBev, a unit of InBev, the world's biggest brewer, did not give details of the transactions, but said it would also give Grupo Romero the option to lift its interest to 30 percent in AmBev Peru.

AmBev�s main rival in Peru is SABMiller's subsidiary Backus & Johnston. Backus has 99 % of the market with its Pilsen, Cristal and Cusquena brands.

Peru has one of Latin America's lowest per capita beer consumption rates, making it an attractive market.

Grupo Romero has businesses ranging from banking to food and logistics.