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Ecuador: Heineken backs SCPM, looks to invest in Ecuador

 |  December 13, 2016

Global brewer Heineken has weighed in on the decision recently ratified by the Guayas Civilian and Administrative Unit judge, which effectively annulled the order given by the country’s competition and market regulator, the Superintendence for the Control of Market Power (SCPM), which a few weeks back approved the merger of the beer giants SABMiller and AB Inbev. The merger, which has slowly gained regulatory approval around the world, had been made conditional on the sale of the ‘Club’ brand of beers to an unrelated competitor. This condition is now effectively removed, allowing the deal to go forward regardless.

“Heineken totally supports the SCPM’s decision, and we reinstate our interests in making an important investment in Ecuador in light of this merger” said José Javier Jarrín, Heineken’s spokesman.

Mr. Jarrín added, referring to its major rival’s merger, that “a monopoly that is so dominant will limit the choices of consumers, bring about higher consumer prices, squeeze the margins for distributors and retailers, and fails to promote employment opportunities for Ecuador’s workers.”

Full Content: El Telégrafo

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