BRAZIL: AmBev launches share buyback

By just-drinks.com editorial team | 17 November 2006

AmBev is about to launch a share buyback programme.

The Brazilian arm of global brewing giant InBev said yesterday (16 November) that it will spend up to BRL1bn (US$462.8m) on buying a maximum of 1.3bn preferred shares, representing 7.7% of the company's outstanding preferred shares. AmBev could also buy back up to 325m common shares - 8.8% of AmBev's outstanding common shares.

The unit said that the buyback programme will remain open for 360 days.

Sectors: Beer & cider

Companies: AmBev