E-Malt.com News article: 2022

Colombia's biggest brewer, Bavaria, denied on January 9 that it was negotiating its sale to Belgium's Interbrew, the world's fourth biggest brewer. "It is not true," a Bavaria official told Reuters.

Peruvian newspaper Correo said that Interbrew officials had met with their Bavaria counterparts in the United States to finalise a deal. It did not cite any sources.

Union de Cervecerias Peruanas Backus y Johnston, Peru's biggest brewer controlled by Bavaria, also denied the report. "There are no negotiations with any Belgian brewer," the spokesman said.

Interbrew, known for its Stella Artois brand, declined comment. Its stock ended down 1.05 % at 20.65 euros in Brussels. Bavaria ended 0.77 pct higher at 13,150 pesos in Bogota, while Union de Cervecerias was up 0.85 percent at 1.19 soles in Lima.

Bavaria is controlled by Colombian business magnate Julio Mario Santo Domingo, and has a leading market share in Peru, Panama, Ecuador and Colombia. It recently embarked on a $1.1 billion expansion plan aimed at becoming one of Latin America's biggest brewers.

Bank Degroof analyst Christophe Piron in Brussels said he was surprised by the report because Latin America -- like Africa -- was not a priority for Interbrew. "They have said that they would avoid countries with a monetary risk," he said.

Interbrew has little presence in Latin America. It owns 30 percent of Mexican brewer Femsa and exports its Beck's brand to a few countries such as Colombia.


13 January, 2004