THE history of the world’s biggest brewer is one of unquenchable thirst. In 1989 Jorge Paulo Lemann and two partners bought a middling Brazilian beer company named Brahma for $50m. A decade later Brahma acquired Antarctica, a rival, to become AmBev. In 2004 a merger with Interbrew, the Belgian seller of Stella Artois and Beck’s, created InBev. Four years later, ...
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