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Renaissance Capital has cut its rating on Sun Interbrew. The broker reduced Sun Interbrew's B shares, or voting stock, to "hold" from "buy" following the Belgian brewer's buyout of SUN Trade from the venture yesterday.

Renaissance said it maintained its 'hold' recommendation on non-voting A shares and kept target prices for both unchanged.

"Uncertainty remains with regards to the future of SUN Interbrew's minority shareholders," Renaissance said in a research note.

"Free float has fallen to 8.8% of total capital ... which is a negative development."


Sectors: Beer & cider

Companies: Anheuser-Busch InBev

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