28 March, 2007

Brazil: AmBev talks to acquire Brazilian brewer Cintra

AmBev, the Brazilian unit of global brewing giant InBev, is in talks to buy a small local brewer, Cintra, a leading Brazilian newspaper reported, according to Reuters, March 28.

Citing unnamed sources close to the deal, financial daily Valor Economico said AmBev was in advanced negotiations to buy Cintra's two factories. The deal would not include the Cintra brand name so as to avoid antitrust concerns, Valor said.

AmBev, which commands almost 70 percent of Brazil's beer market, declined to comment.

Cintra, a closely held brewer based in Rio de Janeiro, has been up for sale for about two years. Another family-owned Brazilian brewer, Schincariol, and Portuguese brewing company Sagres have also been widely reported as potential buyers.

An acquisition of Cintra, which Valor said could be worth about $150 million, would help AmBev block Schincariol's attempts to make headway in the key market of Rio de Janeiro.

Though Cintra has just 1.12 percent of the national beer market, its market share in Rio is almost 6 percent, according to market research firm AC Nielsen.

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