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Compania Cervecerias Unidas (CCU) is set to buy Argentine brewer Inversora Cervecera.

The Chilean company, which is also the second largest brewer in Argentina, said late last week that it has signed an agreement to acquire Inversora Cervecera for US$88m.

The purchase is still subject to antitrust clearance, CCU noted in a statement to the Chilean stock and insurance regulator. CCU signed the deal through its Argentinean unit Compania Industrial Cervecera.

Last year, Inversora Cervecera bought three brands from InBev's Argentine subsidiary, Quinsa, that InBev had to sell off in connection with antitrust approval. Inversora Cervecera subsequently acquired the Palermo, Bieckert and Imperial brands, as well as a brewery in Lujan from Quinsa.


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