Anheuser-Busch InBev NV (ABI) may spend about $20 billion to buy the rest of Grupo Modelo SAB, Mexico’s biggest brewer, according to a person with knowledge of the matter.

The amount is the enterprise value for the transaction and would include a premium for Modelo as well as a payment to Constellation Brands Inc. (STZ) to buy a stake in a distribution joint venture, said the person, who declined to be identified because the matter is private.

To contact the reporter on this story: Jeffrey McCracken in New York at jmccracken3@bloomberg.net

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