AmBev has approved plans to launch a one-year share buyback programme.

The Brazilian arm of InBev confirmed yesterday (6 February) that its board has given the green light to the programme to repurchase its outstanding shares.

The buyback is expected to expire at the end of January next year.

AmBev said it would ring-fence up to BRL1bn (US$481m) of its cash reserves for the programme. Around 3.6bn common and 16.4bn preferred shares remain outstanding.