Anheuser-Busch (AB) InBev and Grupo Modelo have entered into an agreement under which Anheuser-Busch InBev will acquire the remaining stake in Grupo Modelo that it does not already own for $9.15 per share in cash in a transaction valued at $20.1bn.
The combination 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 tender price represents a premium of approximately 30% to the closing price of Grupo Modelo series C shares on 22 June 2012.
Corona will become a global flagship brand alongside Budweiser and join global brands Stella Artois and Beck's. There will be meaningful opportunities to grow Corona globally outside the US and Mexico, given AB InBev's established platform for distribution worldwide.