Ambev taps equity swap

Ambev taps equity swap

Equity Capital Markets Loans Brazil Europe

Brazilian brewing company Ambev has received board approval for an equity swap with banks that could be worth as much as BRL1.2 billion ($238 million). The São Paulo-based beer maker will use up to 80 million shares, including its American depositary receipts (ADRs), as the underlying asset for a transaction within 18 months, Ambev said in a securities filing on Wednesday. "The purpose of the transaction is to neutralize the possible effects of stock price oscillation in view of the future deliv

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