Cleary Gottlieb has represented AmBev and its subsidiary, Cervecería Quilmes, in a transaction with their indirect controlling shareholder, AB InBev, pursuant to which Quilmes received an exclusive, perpetual and irrevocable license to produce, sell, and market Budweiser beer and related products in Argentina and rights to other North American beer products.
AB InBev completed a simultaneous transaction with the Chilean brewer CCU to, among other things, terminate the existing license of Budweiser from AB InBev to CCU.
Cleary also represented Quilmes in a separate transaction for the acquisition of Cervecería Isenbeck, an Argentine brewery previously owned by AB InBev, for cash plus the transfer of Norte, Iguana, and Baltica beer brands previously held by Quilmes. AmBev is the largest brewer in Latin America and Quilmes is the largest brewer in Argentina.