InBev To Buy Out Modelo For $20.1 BillionJune 29th, 2012 10:52 am Associated Press
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.