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InBev agrees to buy Anheuser for $50 billion

(Agencies)
Updated: 2008-07-14 14:57

InBev is known for ruthless cost-cutting, and its advances on a US icon sparked an outcry from St. Louis to Washington, with even democratic presidential candidate Barack Obama weighing in against a deal.

Related readings:  Bud brewer bids to slow down InBev's board plans  InBev wants to axe firm's board  Anheuser may reject InBev offer  Trouble brewing in Busch family over InBev's bid

Analysts have said that Modelo is likely to embrace InBev's bid for Anheuser and hopes the Belgian brewer proves to be a more dynamic and innovative partner than the biggest US brewer.

InBev, which was formed by the 2004 merger of Belgium's Interbrew with Brazil's AmBev, is based in Leuven, Belgium and run by a mostly-Brazilian management team. Its portfolio includes more than 200 brands.

While Anheuser earns about 85 percent of its profits from the United States, where it controls nearly half the market, InBev has strong positions in Western Europe and Latin America and is growing in Eastern Europe and Asia.

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