USA: AmBev Announces a Share Buyback Program and Payment Of Interest on Shareholders' Equity
Companhia de Bebidas das Americas -- AmBev (''AmBev'') announced today that the Board of Directors of Companhia Cervejaria Brahma (''Brahma''), its wholly owned subsidiary, has approved a buyback program of the common and preferred share AmBev. The program calls for the acquisition of up to 396,368,782 common shares and 2,107,031,690 preferred shares issued by AmBev, representing 10% and 9.8% of the respective float in each class (i.e. 3,963,687,815 common shares and 21,607,581,900 preferred shares). As per Brazilian law, the buyback program is valid for 90 days. Should the number of shares actually acquired be below the established limit over the next 90 days, management intends to renew the buyback program in successive 90-day periods.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Is Diageo on the Brink of a Brain Drain?
- SABMiller edges Diageo as beer trumps spirits
- Focus - SABMiller's FY Sales Performance by Region
- Will Keurig Kold come to Coca-Cola Co's Rescue?
- Comment - Heineken's move for Pivovarna Lasko
- Rémy Cointreau eyes recovery after Q4 bounceback
- Carlsberg exec joins Diageo as Africa chief steps
- Diageo YTD sales come in flat
- Belvedere unveils executive team
- Stock Spirits recruits Drambuie head for MD role