The world's largest brewer, Anheuser Busch InBev, is close to buying Dominican brewer Cervecería Nacional Dominicana SA (CND) in a deal valued at about $2.5 billion, The Wall Street Journal today reported, citing people familiar with the matter.
Brewing giants, Anheuser Busch and Heineken were in the race to buy CND, the brewer of Presidente beer, but Anheuser-Busch, whose flagship brand is the Budweiser beer, has emerged as the lead bidder, said the paper.
Heineken already owns a 9.3-per cent stake in CND.
Under the complex deal that could be announced as early as this week, Anheuser will partner with Grupo León Jimenes, which owns 84 per cent of CND.
Although the WSJ did not have details of the deal, which includes what role Anheuser Busch's Brazilian unit would have. But one of the people told the paper that ultimately Anheuser would acquire control of CND.
Founded in 1929, Santo Domingo-based CND is the largest brewer in the Dominican Republic. It first released its major brand Presidente in 1935, and has since expanded to other brands such are Bohemia Especial, Presidente Light and Ambar.