Reuters: Regulatory News: UPDATE 2-AB InBev to buy 51 pct of Dominican brewer CND

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UPDATE 2-AB InBev to buy 51 pct of Dominican brewer CND Apr 16th 2012, 14:41 Mon Apr 16, 2012 10:41am EDT * ABI to pay $1 bln to Dominican group, $237 mln to Heineken * ABI to end up with 51 pct stake in brewer * ABI shares up 1.7 pct April 16 (Reuters) - Anheuser Busch InBev, the world's biggest brewer, on Monday agreed to buy a roughly 51 percent stake in the Dominican Republic-based brewer Cerveceria Nacional Dominicana (CND) from two sellers for over $1.2 billion. The brewer of Budweiser is paying around $1 billon for a 41.76 percent stake in the maker of Presidente beer from majority shareholder E. Leon Jimenes, which itself owns 83.5 percent of CND, the largest brewer in the Dominican Republic. AB InBev will also pay $237 million for the 9.3 percent stake in CND currently owned by Heineken. The Belgium-based brewer said the deal, which involves its Brazilian subsidiary AmBev, will create the leading beverage company in the Caribbean region with businesses in beer, malt and soft drinks. It will have operations in the Dominican Republic, Antigua, St Vincent and Dominica. The deal is expected to close in the second quarter of 2012 and to add to earnings in the first year of operations. Last month, Reuters reported that AB InBev and Heineken were in a race to buy CND. Amsterdam-based Heineken, the world's No. 3 brewer after AB InBev and SABMiller, has expanded in the Americas region with its 2010 purchase of Mexican brewer FEMSA Cerveza. AB InBev already has extensive operations in North and South America and controls nearly 50 percent of the beer market in the United States and almost 70 percent of the market in Brazil. AB InBev shares were up 1.7 percent at 55.04 euros in Brussels. Link this Share this Digg this Email Reprints

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