A-B InBev is finally getting control of Modelo

A-B InBev is finally getting control of Modelo

Anheuser-Busch InBev is set to acquire 95% of Grupo Modelo after completing a tender offer for the Mexican brewer's outstanding shares. 

In the long-running deal, the Budweiser brewer said late last week that a total of around two billion shares had been tendered at its offer of US$9.15 per share. The deadline for the tender offer expired on Friday (31 May). 

The shares represent around 89% of Modelo's stock. On top of A-B InBev's existing stake, this brings it interest in Modelo to 95%, it said. 

A-B InBev's move for Modelo was finally given the green light in April after the Department of Justice dropped its anti-trust lawsuit over the deal. 

Modelo shareholders who did not offer their stock will have a 25-month period to sell their shares to A-B InBev, the brewer said.