InBev's Brazilian unit AmBev has upped its stake in Argentina's largest brewery, Quinsa.

AmBev said today (13 April) that it had paid Beverages Associates Corp. around US$1.2bn to buy its stake in Quinsa, which dominates beer markets in Argentina, Bolivia, Paraguay and Uruguay and has a position in Chile.

The deal takes AmBev's interest in Quinsa from 56.7% to 91.2%. The agreement marked the last stage of a deal signed in 2002 when AmBev acquired an initial stake in Quinsa.

AmBev said: "AmBev expects the transaction to increase synergies between the operations of Quinsa and AmBev throughout the Southern Cone. The transaction reflects AmBev's commitment to market growth in Argentina, Uruguay, Paraguay, Bolivia and Chile."