Belgium: Inbev aims India, Latin America, Russia and China as targets for future acquisitions

Inbev SA chief executive Carlos Brito said the brewer has India, Latin America, Russia and China on its radar screen for acquisition opportunities, according to AFX News Limited, April 24.

He mentioned Colombia and Mexico as specific targets within Latin America.

On general industry consolidation, Brito said the group continues to monitor opportunities to "increase or enhance" the group's current global operations or enter into new markets.

He commented however that 95 pct of the group's resources are geared towards managing current operations.

Brito said that the group continues its strategy to move from "biggest to best", with profitability one of the key criteria used by the Leuven-based brewer.

He said that while the group has new internal targets, it is not disclosing them publicly. The group reached its long-standing target of a 30 pct EBITDA margin one year ahead of schedule.

Inbev chairman Peter Harf said the group's discussions with ex-CEO John Brock over his golden handshake package were "ongoing". He added that no legal case had been filed at present.

Separately, CEO Brito said the group respects the European Commission's ruling last week on an illegal cartel in the Dutch beer market.

Inbev says that it has put in place measures to ensure its operations fully comply with EU law.

The CEO declined to comment on whether disciplinary action was taken against individuals within the company over the behaviour, which included price-fixing and market collusion. Brito said: "A lot of things in that file remain confidential".

25 April, 2007