Anheuser-Busch InBev buys all of Grupo Modelo

2:34 PM, Jun 29, 2012   |    comments
(Photo by Joe Raedle/Getty Images)
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BRUSSELS (AP) - Anheuser-Busch InBev SA says it has agreed to buy the half of Corona maker Grupo Modelo it doesn't already own for $20.1 billion in cash, a deal that will greatly increase the size and dominance of the world's largest brewer.

In a statement Friday, InBev said it has agreed with Modelo's management to pay $9.15 per share for the company, a 30 percent premium to its closing price when news the two were in talks came out on June 22. The combined company would have annual sales of $47 billion, and employ 150,000 workers in 24 countries.

InBev CEO Carlos Brito said he was "pleased" with the deal.

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Associated Press

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