Racetrack Peru S.R.L. made an offer to acquire 0.52% stake in Union de Cervecerias Peruanas Backus y Johnston SAA (BVL:BACKUSI1) for approximately PEN 120 million on March 24, 2017. Racetrack Peru S.R.L. agreed to acquire 0.40 million shares for PEN 288.24 per Share. The tender offer is valid from March 28, 2017 to April 26, 2017. As of on April 3, 2017, shareholders of Unión de Cervecerías Peruanas Backus & Johnston approved the deal. Rodrigo Elías & Medrano Abogados acted as legal advisor to Racetrack Peru S.R.L. whereas, Muñiz, Ramírez, Pérez-Taiman & Olaya, Abogados acted as legal advisor to Citicorp Perú S.A. Sociedad Agente de Bolsa who acted as an intermediary in the transaction. Racetrack Peru S.R.L. cancelled the offer to acquire 0.52% stake in Union de Cervecerias Peruanas Backus y Johnston SAA (BVL:BACKUSI1) on March 24, 2018.