A-B InBev is set to get its hands on Modelo by June

A-B InBev is set to get its hands on Modelo by June

Anheuser-Busch InBev has announced that the president of its Brazil unit, AmBev, will take over as Grupo Modelo CEO, once the US$20.1bn deal completes.

Ricardo Tadeu will replace Modelo's current CEO, Carlos Fernandez, and will also be appointed as president of A-B InBev's Mexico "zone", the brewer said last week. The country will be A-B InBev's seventh global zone.

The company said it will launch a tender offer in the "coming days" to acquire the Corona brewer's outstanding shares, at price of US$9.15 per share, while the deal remains on course to complete in June. Last week, a judge agreed to a pact reached between the US Department of Justice and A-B InBev over anti-trust concerns around the takeover. 

A-B InBev also announced the merging of Modelo subsidiaries Diblo and glass manufacturer Dirección de Fábricas into their parent group ahead of its bid for the shares.

The Budweiser brewer's other six zones are: North America, Latin America North, Latin America South, Western Europe, Central and Eastern Europe, and Asia-Pacific.