Mexican competition watchdog OKs Modelo sale to AB InBev
MEXICO CITY Nov 15 (Reuters) - Mexico's competition watchdog said on Thursday it has authorized, with no conditions, the sale of half of Grupo Modelo to AB InBev, a $20.1 billion deal that gave the Belgium-based brewing giant full control of the Mexican company.
Anheuser Busch InBev, the world's biggest brewer, took over the Mexican firm in June, giving it dominance in Latin America's second-largest economy and adding Corona, the top-selling imported beer in the United States, to its brands.
The long-awaited deal was the biggest foreign buyout of a Mexican company in more than 20 years and showed how much global brewers are willing to pay for developing market growth in an increasingly consolidated industry.
- Malaysian airplane investigators look at suicide as possible motive |
- Planning could hold key to disappearance of Flight MH370 |
- U.S., EU set sanctions as Putin recognizes Crimea "sovereignty" |
- Magnitude 4.4 earthquake rocks Los Angeles area
- Russian government admits economy in crisis as Ukraine weighs