Belgian beer company Anheuser-Busch confirmed Friday it is acquiring the remaining stake in Mexican brewer Grupo Modelo for $9.15 a share in a deal worth $20.1bn.

In a joint press statement, the companies said the merger will be "completed through a series of steps that will simplify Grupo Modelo's corporate structure, followed by an all-cash tender offer by AB InBev for all outstanding Grupo Modelo shares."