AB InBev Alters Bid for Mexican Brewer

By Scott, Mark | International Herald Tribune, February 15, 2013 | Go to article overview

AB InBev Alters Bid for Mexican Brewer


Scott, Mark, International Herald Tribune


Anheuser-Busch InBev on Thursday revised its $20.1 billion offer for Grupo Modelo, the Mexican maker of Corona beer, in a bid to gain the approval of U.S. regulators.

Anheuser-Busch InBev on Thursday revised its $20.1 billion deal for Grupo Modelo, the Mexican maker of Corona beer, in an effort to persuade the U.S. antitrust authorities to let the deal proceed.

Under the revised terms, the company offered to sell the rights to Corona and other Grupo Modelo brands in the United States to Constellation Brands, the world's largest wine company, for $2.9 billion.

A brewery close to the U.S.-Mexico border currently owned by Grupo Modelo would be sold to Constellation, as well as the perpetual licensing rights to Grupo Modelo's brands in the United States.

Constellation had agreed to pay $1.85 billion for the 50 percent stake it did not already own in Crown Imports, a joint venture with Grupo Modelo, as part of the original terms of Anheuser-Busch InBev's proposed takeover of the Mexican brewer.

Anheuser-Busch InBev's decision to sell Compania Cervecera de Coahuila, the Mexican brewery that produces Corona, Corona Light and Modelo Especial, is an effort to satisfy regulators after the U.S. Justice Department sued last month to block the deal.

The U.S. authorities said the proposed merger would increase Anheuser-Busch InBev's control of the U.S. beer market and enable it to raise prices. Grupo Modelo is the No.3 beer company in the United States; Anheuser-Busch InBev is the largest, ahead of MillerCoors.

Anheuser-Busch InBev, also known as AB InBev, said the revised deal would give Constellation an independent brewing business, as well as lead Grupo Modelo to divest itself of all of its U. …

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