SABMiller Fails To Make It 100%

Anglo-South African brewer SABMiller, owner of Colombian beermaker Bavaria, has failed to buy up the remaining 2% of the company’s shares outstanding in the market to take 100% control of the company. SABMiller spent around $9 million to increase its stake by 0.21% but was unable to tempt or track down all the company’s shareholders with its offer of $19.48 (46,176 pesos) a share. The brewer will not be able to delist Bavaria from the Colombian Stock Exchange, according to local brokers. SABMiller took control of 71.8% of Bavaria last year in a deal worth $7.8 billion.