Divestiture Seen Rescuing AB-Modelo Deal

Divestiture Seen Rescuing AB-Modelo Deal

Mexico M&A US

Anheuser-Busch InBev (AB InBev) has agreed to sell a Mexican brewery and control of the Corona brand in the US to Constellation Brands for $2.9bn, it says, a move analysts see saving AB InBev’s $20bn deal agreed last year to buy the remainder of Mexico’s Grupo Modelo. In order to appease US regulators, Constellation will take the Piedras Negras brewery and perpetual rights to Corona and the other Modelo beer brands in the US. The price implies a multiple of 9x the expected 2012 Ebitda of $310m,

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