A PYMNTS Company

Ecuador: Heineken backs SCPM, looks to invest in Ecuador

By  |  December 13, 2016
Ecuador: Heineken backs SCPM, looks to invest in Ecuador

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “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

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.