AmBev has begun the year by restarting the hunt for shares in its Argentine unit Quinsa which it does not already own.

Last year, AmBev, the South American arm of global brewer InBev, tendered an offer to buy up to 6.8m class A shares and 8.6m class B shares at US$3.35 and $33.53 per respective share. Having extended the deadline for the offer three times, Inbev finally abandoned the tender in April, having bought 2.5m class A shares and 1.6m class B shares, representing 0.63% of Quinsa's voting rights.

The latest tender, announced last week, sees AmBev look to buy up to 5.5m class A shares and up to 8.8m class B shares in Quinsa. The tender offer, which began on 28 December and will run through until 30 January, is for $4.06 per class A share and $40.62 per class B share.

Should AmBev take control of at least 5.9m class B shares by the deadline, the company said it will up the purchase price to $4.13 per class A share and $41.25 per class B share.

AmBev is looking to delist Quinsa's American Depositary Shares in New York and all class A and class B shares from the Luxembourh Stock Exchange following consummation of the offer.

Quinsa is the largest brewer in Argentina, Bolivia, Paraguay and Uruguay, having a share of the Chilean market as well. It also is the Pepsi bottler in Argentina and Uruguay.

Separately last week, Quinsa confirmed that Gustavo Castelli has quit his position of chief financial officer. While no reason was given for Castelli's decision, the company said that the current general manager of Bolivian subsidiary Cerveceria Boliviana Nacional, Miguel Gomez Eiriz, took over from Castelli from Monday (31 December).