Cerveceria Regional and AmBev Combine Venezuela-Based Businesses

On August 20, 2010, Companhia de Bebidas das Americas (“AmBev”) and Cerveceria Regional S.A. (“Regional”) announced that they have entered into an agreement to combine their business activities in Venezuela. Cravath is representing Regional, which is controlled by the Cisneros Group, in connection with this transaction, which is expected to close in 2010. The combination is expected to create a company with a stronger and more dynamic presence in Venezuela, which is the second largest beer market in South America. At the completion of the transaction, Regional will have an 85% stake of the Venezuelan operation, with the remaining 15% stake to be owned by AmBev.

The Cravath team includes partner Richard Hall and associates Rene Paula-Molina, Manoj Ramachandran and Raffael M. Fiumara on corporate matters; partner Michael L. Schler and associate Sonia Rodriguez on tax matters; associate Kimberly Steefel on executive compensation and benefits matters; and practice area attorney Annmarie M. Terraciano on environmental matters.