Anheuser-Busch, DOJ reach deal on Modelo
THE ASSOCIATED PRESS April 19, 2013 10:54AM
Updated: April 19, 2013 11:08AM
Anheuser-Busch InBev has reached a final agreement with the U.S. Department of Justice settling a dispute over its proposed $20.1 billion acquisition of Grupo Modelo.
The world’s largest brewer has been trying since June to buy the half of Grupo Modelo that it doesn’t already own. The Justice Department blocked the deal out of concern that a combined company that massive would stifle competition in the U.S.
The agreement requires the sale of Modelo’s entire U.S. business to Constellation Brands Inc. to move forward.
Anheuser-Busch said Friday that the deal includes additional commitments to divest those assets promptly.