Anheuser-Busch InBev has upped its presence in the Caribbean

Anheuser-Busch InBev has upped its presence in the Caribbean

Anheuser-Busch InBev has finalised its tie-up with the owner of the Dominican Republic's largest brewer, Cervecería Nacional Dominicana (CND).

A-B InBev said on Friday (11 May) its Brazilian unit, AmBev, has merged its beer operations in the Central American country with Grupo León Jimenes. AmBev subsidiary Ambev Brasil Bebidas now owns an indirect 41.76% interest in CND.

The deal, first reported last month, will cost A-B InBev US$1.24bn.

AmBev Brasil will also complete its $237m acquisition of Heinekin's 9.3% stake in CND in the second quarter, giving the company majority control, A-B InBev said.

León Jimenes retains a total indirect stake in CND of about 42%, while the remaining 7% will be in the hands of minority shareholders.

The alliance will create the leading beverage company in the Caribbean, A-B InBev said. It will include beer, malt and soft drinks operations in the Dominican Republic, Antigua, Saint Vincent and Dominica, exporting to 16 other countries in the Caribbean, the US and Europe.