"We inform you that Bavaria SA's board has authorised its legal representative to prepare an offer to acquire up to 25% of the shares in Cervezas Nacionales CA for an amount up to $152 million," said Bavaria's president Ricardo Obregon in a statement.

Bavaria already holds 67.5% sake of the Ecuadorean brewer, Compania de Cervezas Nacionales. The company also controls 72.5% share of another Ecuadorean brewer, Cerveceria Andina SA. Consequently, Bavaria SA holds about 92% of Ecuador’s beer market.

Another plan of the company is to invest $ 225 million in building a new plant in the Colombian city of Cali, modernizing a plant in Bucaramanga and expanding output at its domestic Aquila and Union units.

These actions are just a part of a US$ 1 billion investment the company plans to spend over to expend its influence in the region.

02 September, 2002