AmBev S.A. closed the sale of 100% of its stake in Compañía Cervecera Ambev Perú to a subsidiary of the Belgian-Brazilian brewery company Anheuser-Busch InBev. The transaction, which was completed on December 19th 2016, and included the cost base certification process before the Peruvian National Superintendency of Customs and Tax Administration (Sunat), totalled $64,729,800.
The operation was part of the $106 billion merger of AB InBev and its South African rival SABMiller, announced in October 2015. In this case, the merger of AB InBev and SAB Miller involved the reorganization of the Peruvian brewing business, where AmBev Perú has between 4% and 6% of the beer market and Backus, SAB Miller's subsidiary in the country, has a 90% market share.
Ambev and Compañía Cervecera Ambev Perú were represented by Rebaza, Alcázar & De Las Casas in Lima and Skadden, Arps, Slate, Meagher & Flom LLP in New York. AB InBev was assisted by Cravath, Swaine & Moore LLP, in New York.