October 12, 2005 -- On Friday, October 7, according to a Reuters report, over 98% of shareholders of the U.K.-based brewing giant, SABMiller, approved the $7.8 billion (U.S.) stock-and-cash takeover of South America's second biggest brewer, Colombian-based Bavaria. The deal, which was finalized today, gives SABMiller a 71.8% controlling stake in the Columbian brewer and soft drink manufacturer, with an offer to minority stakeholders in the works.

With a dominant presence now in Panama, Ecuador, Peru and Colombia, SABMiller has jumped one position to become the world’s second largest brewer by volume, behind Belgium’s InBev and ahead of U.S.-based Anheuser-Busch. (Due to the generally lower price of South American beer, A-B still maintains its global number one position financially.)

Speculation continues that SABMiller’s buying spree has not yet ended and that the company still has the U.K.’s largest domestic brewer, Scottish & Newcastle, in its sights.

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