BNY Mellon Named Depositary for Ambev S.A.'s ADR listing on New York Stock Exchange
New depositary receipt program helps facilitate corporate reorganization
NEW YORK, Nov. 18, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Ambev S.A. as depositary bank for its American Depositary Receipt (ADR) program. Each Ambev ADR represents one ordinary share and trades on the New York Stock Exchange under the symbol "ABEV." Ambev's ordinary shares trade on the BM&F Bovespa under the symbol "ABEV3."
Ambev and its subsidiaries produce, distribute and sell beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products in 16 countries across the Americas. The company conducts its operations through three business units: Latin America North includes Ambev operations in Brazil, Central America and the Caribbean; Latin America South includes operations in South America outside Brazil; and Canada is represented by Labatt's operations and includes domestic sales in Canada.
"Our broad experience with complex corporate reorganizations involving DRs will be brought to bear in supporting this important milestone in Ambev's history," said Christopher Kearns, CEO of BNY Mellon's Depositary Receipts business. "We look forward to further helping the company tap into the U.S. and global investment communities."
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs, acting in partnership with leading companies from 68 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com, or follow us on Twitter @BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon
More by this Source
Funded Status of U.S. Corporate Pensions Rises to 92.6 Percent, According to BNY Mellon ISSG
Mar 05, 2014, 07:43 ET
BNY Mellon names CEO of Alternative Investment Services business
Mar 03, 2014, 08:15 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.