AmBev to pay $1 bln for stake in Caribbean brewer

SAO PAULO, April 16 Mon Apr 16, 2012 9:32am EDT

SAO PAULO, April 16 (Reuters) - AmBev, Brazil's largest brewer, said on Monday it will pay about $1 billion for an initial 41.76 percent stake in Caribbean brewer Cerveceria Nacional Dominicana (CND), the brewer of Presidente beer, which is currently controlled by E. Leon Jimenes SA.

AmBev said in a securities filing it will buy another 9.3 percent stake in CND from Heineken NV for $237 million in a separate operation, bringing its total stake to 51 percent in the Dominican brewer.

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