AB InBev to Buy Remaining Grupo Modelo Stake in Deal Worth $20.1 Billion |
| Fox Business - Jun 29, 2012 |
In a joint press statement, the companies said the merger will be "completed through a series of steps that will simplify Grupo Modelo's corporate structure, followed by an all-cash tender offer by AB InBev for all outstanding Grupo Modelo shares."
The companies said the tender price for the shares represents a premium of around 30% to Grupo Model's closing price on June 22.
AB InBev already owns a non-controlling 50% stake in Grupo Modelo and the combined company would be the largest in the industry with estimated 2012 revenues of $47 billion from operations in 24 countries, the companies said.
The Modelo sale to AB InBev ends a contentious history between the companies. AB InBev won its 50% Modelo stake through InBev's $52 billion acquisition in 2008 of Budweiser producer Anheuser-Busch, a deal that created the world's largest beer maker by sales. Anheuser had tried unsuccessfully to entice Modelo to merge with the U.S. brewing giant after it received the unsolicited approach from InBev, people familiar with the matter said at the time.
Read more: http://www.foxbusiness.com/news/2012/06/29/ab-inbev-to-buy-remaining-grupo-modelo-stake-in-deal-worth-201-million/#ixzz1zChfGZEX
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- Posted: 2012-06-29 13:22:31
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