Anheuser-Busch InBev NV has officially agreed to buy the remaining portion of Grupo Modelo SAB for a whopping $20.1 billion in cash. The world’s biggest brewer now has full control over the makers of Corona.
Modelo shares were purchased by AB-InBev for $9.15 a share. With the acquisition, the combined profits expect to exceed $47 billion annually.
Also, Constellation Brands Inc. (STZ) has agreed to purchase Modelo’s stake in their U.S. joint venture with Crown Imports LLC. That leaves Constellation with full distribution control of the Modelo Brands.