A few months ago it was announced that Anheuser-Bush InBev would acquire half of the Mexican company Grupo Modelo, who is one of the most important brewing companies in Mexico. But today the U.S. Department of Justice launched a lawsuit seeking to cancel the purchase, which was estimated at 20.1 billion dollars, and justified the action by saying that this purchase by Anheuser-Bush would affect competition in the U.S. market.
InBev acquired Anheuser-Bush in 2008, and the acquisition of Grupo Modelo would have had an impact on 47% of the market. These changes have affected the value of both companies in the U.S. and Mexican stock market.
The Justice Department said if they had made the purchase as planned, Anheuser-Bush InBev would have an effect on the costs to American consumers as well as limiting the market to Grupo Modelo.
Founded in 1925 by a Spanish businessmen based in Mexico, Grupo Modelo is the leader in the production and export of beer and has seven plants in Mexico. A popular known beer brand of this company is Corona which is exported to over 180 countries.
InBev told Reuters in a statement that the Justice Department's decision to sue and stop the deal was "inconsistent with the law. We remain confident in our position, and we intend to vigorously contest the Department Of Justice action in federal court."