Dirección de Fábricas' Merger with Grupo Modelo

Cravath represented Dirección de Fábricas, S.A.B. de C.V. (DIFA), as U.S. corporate counsel in connection with its merger with Grupo Modelo, S.A.B. de C.V. On June 29, 2012, the companies announced that they had entered into an agreement under which Grupo Modelo would acquire the remaining stake in DIFA that it did not already own in exchange for voting capital shares of Grupo Modelo. The transaction, which valued the stake in DIFA that was not already owned by Grupo Modelo at US$945 million, was entered into in connection with Grupo Modelo’s $20.1 billion combination with Anheuser‑Busch InBev. On June 4, 2013, Grupo Modelo and Anheuser‑Busch InBev announced that the parties successfully completed the combination, including the merger of DIFA with Grupo Modelo.

The Cravath team included partner David Mercado 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; and practice area attorney Michael Krasnovsky on executive compensation and benefits matters.