UK: Merrill upgrades InBev
Investment bank Merrill Lynch has lifted its rating on brewer Inbev to "buy" from "neutral".
The bank's analysts also increased its share target to €33 from €27.
Merrill said it had renewed confidence in the brewer's capacity to generate value for its ordinary shareholders.
"The moves that InBev's management has made to reduce the leakage of value to minority and debt holders (such as the buy-backs) and from the realisation that the overall value coming from AmBev is substantially more than expected as recently as 3-4 months ago," Merrill said.
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
AmBev Peru is to launch a new beer in the market that will bring competition to a market so far dominated by the monopoly of Union de Cervecerias Peruanas Backus & Johnston SAA, or Backus....
InBev said yesterday that its General Shareholders Meeting of April 26, 2005 approved the annual accounts 2004, as well as the gross dividend of €0.39 proposed by the board of directors....
InBev, the world's largest brewer by volume, said it has achieved overall organic volume growth of 4.1% in the first quarter of 2005, to 47.3m hectolitres, despite tough conditions in the US and Weste...
InBev has sold its majority stake in Bosnia's Uniline brewery, according to local reports....
InBev has made an offer to acquire the remaining minority interests in its Russian business SUN Interbrew Ltd (SIL) that it doesn't own, at a price of US$33.41 in cash per security....
The Bosnian government has put a majority stake in the country's brewery Banjalucka Pivara up for sale. Previous efforts to privatise the brewer have failed....
San Miguel Brewery Hong Kong has secured a deal to distribute InBev's products in the city and neighbouring Macau....
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