Anheuser-Busch InBev SA/NV Rotten Score Breakdown

In May 2019, the European Commission fined Belgian brewer AB InBev €200,409,000 for abusing its dominant position in the Belgian beer market. The Commission found that from February 2009 through October 2016 AB InBev deliberately restricted supermarkets and wholesalers from buying cheaper Jupiler beer in the Netherlands and importing it into Belgium. Measures included changing packaging, limiting supplies to a Dutch wholesaler, conditioning sales of important products, and restricting promotions. The Commission concluded that the strategy maintained higher Belgian prices and infringed EU antitrust rules. Source: European Commission https://ec.europa.eu/commission/presscorner/api/files/document/print/hu/ip_19_2488/IP_19_2488_EN.pdf

In September 2016, the U.S. Securities and Exchange Commission found that AB InBev violated the Foreign Corrupt Practices Act's books-and-records and internal-controls provisions in connection with its Indian operations. The SEC found that an Indian joint venture used third-party sales promoters to make improper payments to government officials to obtain beer orders and increase brewery hours, while related expenses were recorded as legitimate promotional costs. The SEC also found that a separation agreement impeded a former employee from communicating directly with SEC staff. AB InBev agreed to pay approximately $6 million in disgorgement, interest and penalty and accepted reporting and cooperation obligations. Source: U.S. Securities and Exchange Commission https://www.sec.gov/files/litigation/admin/2016/34-78957.pdf