On June 29, 2012, Anheuser-Busch InBev and Grupo Modelo, S.A.B. de C.V. announced that they have entered into an agreement under which Anheuser-Busch InBev will acquire the remaining stake in Grupo Modelo that it does not already own for US$9.15 per share in cash in a transaction valued at US$20.1 billion. Cravath represented Grupo Modelo as U.S. counsel in connection with this transaction. The transaction, which is subject to regulatory approvals in the U.S., Mexico and other countries, is expected to close during the first quarter of 2013.
The Cravath team included partners David Mercado and Joel F. Herold and associates Benjamin C. Hewitt, Stephanie R. Gallina, Dean M. Mades and Jose L. Lopez on corporate matters; partner Michael L. Schler and associate Christopher K. Fargo on tax matters; partner Jennifer S. Conway and practice area attorney Michael Krasnovsky on executive compensation and benefits matters; and partners Christine A. Varney and Yonatan Even and associate Margaret T. Segall on antitrust matters. Summer associates Elliot P. Forhan and Jordan Wish also worked on executive compensation and corporate matters, respectively.