Business

Brazilian beer giant convicted in dispute over 116-year-old shares

Beer giant ambev lawsuit dispute 116-year-old shares Brazil
Photo: Ambev

Brazilian brewing giant Ambev is facing a bill of over BRL 300 million over an equity dispute that dates all the way back to World War II, involving Germany, former Brazilian President Getúlio Vargas, and popular beer brand Brahma.

In the 1990s, the near 200-year-old German shipping company F. Laeisz discovered that it holds some 74 million ordinary shares in Ambev, and a subsequent court case ruled in favor of F. Laeisz, forcing the Brazilian corporation to pay all dividends and interest due to its shareholders since 2012, an amount believed to total more than BRL 300 million.

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