MEXICO: A-B InBev silent on Modelo dispute hearing
The panel is set to meet in the first half of December in order to put an end to the case, reported Reuters today (2 December), citing an unnamed source.
A spokesperson for A-B InBev declined to comment on the report when contacted by just-drinks.
Modelo, which owns Corona beer, filed for arbitration against A-B InBev in October 2008, at the time of InBev's $52bn takeover of A-B.
The Mexican brewer argues that an agreement between itself and A-B prohibits the automatic transfer of A-B's 50% non-controlling stake in the company to "a competitor in the beer business".
Modelo also argues that the agreement prohibits A-B from disposing of its stake "without first giving the controlling shareholders of Grupo Modelo an opportunity to purchase the shares".
A-B InBev CEO Carlos Brito said in the group's results conference call in August this year that Modelo's claim is "completely without merit".
China's Guangzhou Zhujiang Brewery, which is 24%-owned by Anheuser-Busch InBev, is planning to raise up to RMB1bn (US$146M) via a share offering, according to a report....
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