Peruvian brewer Union de Cervecerias Peruanas Backus y Johnston (Backus) made a PEN 2.07 million (USD 634,000/EUR 489,000) bid for a 1.42% stake of shares with voting rights in local glass maker Vidri…
Peruvian brewer Union de Cervecerias Peruanas Backus y Johnston (Backus) made a PEN 2.07 million (USD 634,000/EUR 489,000) bid for a 1.42% stake of shares with voting rights in local glass maker Vidrios Planos del Peru SA. Backus wants to buy up to 372,974 Vidrios Planos shares at a face value of PEN 1.0 (USD 0.31/EUR 0.24) each. Backus has offered to pay PEN 5.57 (USD 1.71/EUR 1.32) per share. Vidrios Planos announced an initial public offering (IPO) of its common stock from 19 January to 15 February 2005. The term of the IPO may be extended if Backus applies for such an extension. Backus has a monopoly on beer production in Peru. The company is controlled by Colombian brewing and beverage company Grupo Empresarial Bavaria (GEB), which holds a 70% stake in Backus. GEB is the largest Colombian brewer, the second largest brewer in South America and the fourth largest in Latin America.