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InBev to buy out Modelo for $20.1 billion

InBev to buy out Modelo for $20.1 billion

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.


Updated : 2021-03-08 15:22 GMT+08:00