AB InBev settles Justice Department litigation as it nears Grupo Modelo goal
AB InBev has agreed a settlement with the US Department of Justice, which sued to world's largest brewer earlier this year on competition grounds, to halt its proposed $20.1bn acquisition of the remaining stake in Grupo Modelo it does not already own.
Constellation Brands, Crown Imports and Grupo Modelo are also party to the agreement, which AB InBev said on Friday, was, "substantially in line with the revised transaction announced on February 14 2013".
AB InBev added: "The proposed final judgment presented to the court includes additional binding commitments to the revised transaction, which are designed to ensure a prompt divestiture of assets by AB InBev to Constellation [Brands], the necessary build-out of the Piedras Negras brewery by Constellation, as well as certain distribution guarantees for Constellation in the United States."
AB InBev expects the transaction to close in June 2013.
