On Friday, the Department of Justice (DOJ) announced that it had reached an agreement with Anheuser-Busch InBev over the company’s acquisition of Mexico-based Grupo Modelo.
In January, the DOJ filed an antitrust suit against Anheuser-Busch, saying its plan to acquire Grupo Modelo, the maker of Corona, for $20.1 billion would hurt competition and lead to increased beer prices for consumers. Anheuser-Busch has submitted a revised proposal in which it said Modelo would sell control of all its brands in the U.S., a Mexico-based brewery and 50 percent ownership in Crown Imports to a rival company, Constellation Brands Inc. A district court must still approve the proposed settlement.
According to Thomson Reuters, the $4.75 billion in assets that Anheuser-Busch intends to sell in order to complete the acquisition would be the second-largest that antitrust authorities have ever required. The largest required divestiture was a $6.9 billion sale that the oil company ARCO made before BP acquired it in 2000.
Read Bloomberg for more about the proposed settlement.
For more InsideCounsel coverage of Anheuser-Busch, read: