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Wednesday, 05 June 2013 13:41

AB InBev completes purchase of Grupo Modelo

NEW YORK (AP) - Anheuser-Busch InBev has completed its $20.1 billion purchase of Mexican brewer Grupo Modelo.

The world's largest brewer has been trying for almost a year to buy the half of Modelo that it did not already own. The Department of Justice initially blocked the deal, concerned that it would hurt U.S. beer shoppers' choices, but signed off on the combination after AB InBev agreed to sell Modelo's entire U.S. business to a wine maker, Constellation Brands Inc.

Constellation will sell Modelo brands including Corona in the U.S., effectively replacing Modelo as a competitor to AB InBev. AB InBev expects that deal to close Friday.

AB InBev, based in Belgium, sells Budweiser, Stella Artois and other beers. The combined company will also sell Corona and other Modelo brands outside the U.S.

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