BRAZIL: Schincariol denies for sale rumours
Brazilian brewer Schincariol has moved to dismiss speculation of an impending takeover bid from SABMiller.
Schincariol, Brazil's second-largest brewer, was set to be the subject of an offer from SABMiller, according to local reports.
However, a spokesman for Schincariol in Sao Paulo told just-drinks today (2 March) that the reports were just "gossip".
"That's only a rumour. Schincariol is not for sale to SABMiller or any other company," he said.
SABMiller refused to comment on the reports but just-drinks understands that the brewer is in any case unlikely to make an approach for Schincariol.
SABMiller is understood to be concentrating on building its Bavaria business in South America, which it acquired last July in a US$4.8bn deal.
The acquisition of Bavaria gave SABMiller a strong presence in markets including Colombia, Peru and Ecuador and a foothold in a continent previously dominated by AmBev, the Latin American arm of Belgium-based brewing giant InBev.
AmBev controls almost 70% of the Brazilian beer market, where Schincariol has risen to the number two spot in Brazil over the last two years on the back of rising sales of its Nova Schin brand.
Schincariol's market share stands at 14% after leapfrogging the ailing Kaiser business, in which Molson Coors sold its majority stake in January.
Sectors: Beer & cider
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