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AmBev Gains Control of Dominican Brewer For $1.2 Billion

Anheuser-Busch InBev NV, the world’s largest brewer, agreed to buy control of Cerveceria Nacional Dominicana for $1.24 billion, boosting its expansion with the addition of the Dominican Republic’s biggest beermaker.

AB InBev’s AmBev unit will pay CND’s majority owner E. Leon Jimenes SA about $1 billion cash and contribute AmBev Dominicana to a new holding company, according to a statement today. AmBev will also acquire a 9.3 percent stake in CND owned by Dutch competitor Heineken NV for $237 million, they said.