ab Inbev and grupo modelo to combine,

ab Inbev and grupo modelo to combine,
next step in a long and successful partnership
• Corona to join Budweiser as a global flagship brand
• Natural progression of partnership spanning more than 20 years
• AB InBev is currently the largest shareholder in Grupo Modelo with an economic stake
of more than 50%
• Significant growth opportunity from combining two leading brand portfolios and
distribution networks
• Mexico is an attractive market in which to invest
• Unites Grupo Modelo’s #1 position in world’s fourth largest profit pool with AB InBev’s
leading global position
• Significant opportunity for best practice sharing in areas like technology and water usage
AB InBev is the leading global brewer and
one of the world’s top five consumer products
companies, with 39.0 billion US dollar
revenue in 2011. A truly consumer-centric,
sales driven organization, AB InBev manages
a portfolio of over 200 beer brands – including Global Brands Budweiser,
Stella Artois and Beck’s – and holds the #1 or #2 market position in many of
the world’s top beer markets. The company is headquartered in Leuven,
Belgium, with operations in 23 countries worldwide and 116,000 employees.
The company strives to be the Best Beer Company in a Better World. In 2011,
AB InBev’s beer volumes were 353 million hectoliters.
www.ab-inbev.com Euronext: ABI; NYSE: BUD
FINaNcIal hIghlIghts
(2012 IBES estimates, USD)
Revenues: $40.4 BILLIoN
eBITDA: $16.0 BILLIoN
BIllIon DollAR BRAnDs: 14
combINed compaNy wIll lead the global beer INdustry
(2012 IBES estimates, in USD, except volumes which are 2011 combined)
ToTAl voluMes: 409 mHL
Revenues: $46.8 BILLIoN
eBITDA: $18.1 BILLIoN
BIllIon DollAR BRAnDs: 17
eMPloYees: APPRoX: 150,000
Grupo Modelo, founded in 1925, is the leader in
Mexico in beer production, distribution and marketing.
It has 37,000 employees and a total annual installed
capacity of 70 million hectoliters. Grupo Modelo
currently brews and distributes 13 brands, including
Corona, the #1 Mexican beer sold in the world,
Modelo Especial, Victoria, Pacifico and Negra Modelo.
The company exports six brands and has a presence in more than 180 countries.
It is currently the importer of AB InBev’s products in Mexico and also imports the
Chinese Tsingtao brand and the Danish beer Carlsberg. In 2011, Grupo Modelo’s
volumes were 56 million hectoliters.
OCRE PANTONE 131 CVC
CAFE PANTONE 161 CVC
ROJO PANTONE 186 CVC
AZUL PANTONE 281
www.grupomodelo.mx BMV: GMoDELoC
Revenues: $6.4 BILLIoN
eBITDA: $2.1 BILLIoN
BIllIon DollAR BRAnDs: 3
an unparalleled portfolio of leading brands
benefiting from a global platform

partNershIp hIghlIghts
• Corona is the leading import beer in 38 countries and is exported to over 180 countries
• Grupo Modelo’s name, identity, heritage and headquarters in Mexico City will be maintained,
alongside a local board of directors
• Meaningful opportunities to grow dynamic brands like Corona and Modelo Especial globally,
given AB InBev’s extensive global distribution network and established platform
• Corona is ranked as the leading beer brand in Latin America, and the fourth most valuable
globally, by BrandZ
• Combined company would work to enhance corporate responsibility initiatives for their
employees, the environment and consumers
• Grupo Modelo brands will continue to be imported, marketed and distributed in the U.S.
through Crown Imports
traNsactIoN detaIls
• Total transaction value is approximately USD 20.1 billion
• The transaction will be completed through a series of steps that will simplify Grupo Modelo’s
corporate structure, followed by an all-cash tender offer by AB InBev for all outstanding
Grupo Modelo shares
• Tender price of USD 9.15 per share represents premium of approximately
30% to the closing price of Grupo Modelo series C shares as of June 22, 2012
• AB InBev has fully committed financing in place
*Estimated Retail Sales Value (USD)
top 10 beer braNds worldwIde*
RAnK BRAnD CoMPAnY
*BrandZ 2012
17 bIllIoN dollar braNds across the world*
where to FINd addItIoNal INFormatIoN
More information about the transaction, including
video interviews of both CEos, is available at
www.globalbeerleader.com or www.liderglobalencerveza.com
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AB InBev
AB InBev
Heineken
Grupo Modelo
AB InBev
AB InBev
Diageo
AB InBev
sABMiller
AB InBev