Belgium's Anheuser-Busch InBev NV is close to buying the remaining 50 percent of Grupo Modelo GPMCY SAB de CV, Mexico's largest brewer, that it does not own in a deal estimated to be worth more than $12 billion.

Anheuser-Busch InBev already holds a 50 percent, non-controlling stake in Grupo Modelo, a family controlled company that makes Corona Extra.