Brazilian brewer AmBev (American Beverage Company), the largest beverage company in Latin America, has recently announced that it has bought back 200 million reais (US$70 million) of its stock on the market and launched another 90-day buyback program of the same size, according to Reuters. Companhia de Bebidas das Americas (AmBev), the world's fifth-largest brewer, said it could buy up to 7 percent of its voting stock and 8.4 percent of its preferred shares in the new offer. The new program can be renewed after the 90 days.

"After investing in core activities that increase profit for shareholders, the company also remains committed in returning cash to shareholders through share buybacks and dividends," AmBev said in a statement.

Last year AmBev spent 337 million reais in share buybacks. ($1 = 2.865 reais)

12 June, 2003