AB InBev says completes merger with Mexican brewer Modelo

Anheuser-Busch InBev said Tuesday it had completed its $20.1-billion (15.4-billion-euro) merger with Mexican brewer Grupo Modelo that will further strengthen its top position in the global beer industry.

The maker of Budweiser, Beck’s and Stella Artois said the merger would help unlock “significant growth potential that Modelo brands such as Corona have globally…”

It added “there will also be opportunities to introduce AB InBev brands through Modelo’s distribution network”.

In order to secure the approval of US regulators of the merger announced last year, the companies had to divest Modelo’s entire US business, including the licenses for Corona beer and other brands in the United States.

AB InBev now holds five of the top six most valuable beer brands in the world and produce roughly 400 million hectoliters of beer annually.

AB InBev previously held a 50 percent stake in Modelo, and following an offer at $9.15 per share had increased its stake in the Mexican brewer to 95 percent.