SABMiller Buys Bavaria

SABMiller, the brewer of Miller Lite and Pilsner Urquell, beat out Heineken to buy Colombia’s Grupo Empresarial Bavaria for $5.6 billion. SABMiller will pay $3.5 billion in stock to Colombia’s Santo Domingo family and $2.1 billion in cash to minority shareholders. The London-based company plans to delist Bavaria from Colombia´s stock market; Bavaria´s $4.5 billion market value is more than double the next largest company in the 30-member benchmark IGBC stock index.