Brazil Carnival's beer contracts probed for competition violations [Reuters (UK)]
Ambev S.A. American Depositary Shares (Each representing 1 Common Share) (ABEV)
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Source: Reuters
Brazil Carnival's beer contracts probed for competition violations | Reuters 2 Min Read BRASILIA/SAO PAULO (Reuters) - Brazil’s annual Carnival street parties are being probed for awarding exclusive contracts to certain breweries, possibly limiting competition and driving up revelers’ beer tabs, newspaper O Estado de S.Paulo reported on Monday. A spokeswoman for anti-trust agency Cade confirmed the report that it is carrying out the investigation. A Finance Ministry report last year named Ambev SA, Latin America’s largest brewer, and Heineken NV’s Amstel among the companies that have made deals with city governments to supply beer at Carnival. The ministry said in November that the exclusivity agreements could hurt consumers by limiting competition and asked Cade to investigate further. Ambev did not immediately respond to request for comment about the antitrust probe. Heineken said in a statement that it repudiates “any practice that could violate the rules governing the right to fre
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ABEV
News
- AMBEV'S 2023 ANNUAL REPORT ON FORM 20-F AVAILABLE ON OUR WEBSITEPR Newswire
- Ambev S.A. (NYSE: ABEV) was downgraded by analysts at Barclays PLC to an "equal weight" rating. They now have a $3.00 price target on the stock, down previously from $3.50.MarketBeat
- Ambev S.A. (NYSE:ABEV) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Ambev S.A. (NYSE: ABEV) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating.MarketBeat
- Ambev S.A. (NYSE: ABEV) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
ABEV
Earnings
- 3/1/24 - Beat
ABEV
Sec Filings
- 3/11/24 - Form 6-K
- 3/11/24 - Form 20-F
- 3/8/24 - Form 6-K
- ABEV's page on the SEC website