BRAZIL: Schincariol woes unlikely to aid Molson
An analyst has suggested that the scandal currently affecting Brazilian brewer Schincariol is unlikely to benefit Molson Coors' Brazilian beer business.
Bear Stearns analyst Carlos Laboy said yesterday (28 June) that he expected Brazil's largest brewer, AmBev, to be the main beneficiary. "We strongly caution against viewing Schincariol's troubles as an immediate positive for Molson Coors," he said. Schincariol currently holds around 15% market share in its home country.
Authorities raided Schincariol last week, arresting 70 officials on tax evasion and corruption charges.
Molson bought the Brazilian brewer Kaiser in 2002, but its performance has been brought into question since Molson and Coors merged earlier this year.
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