It’s ours
Bavaria, one of Colombia’s largest listed company, bought a 45% stake in its domestic competitor Leona, thus fending off the threat of a powerful international brewer entering the Colombian beer market. Leona was operating at 25% of installed capacity and had about 8% of the market.
The deal gives Bavaria access to Leona’s modern brewery and paves the way for a large-scale restructuring of the industry which has been plagued by overcapacity, made worse by an economic downturn, for some time now. In return for the stake Bavaria will issue shares to the Ardila Lülle group, the owner of Leona. No value for the deal was given but it is believed that Bavaria could pay about US$100 million for the stake..
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