US: Anheuser-Busch InBev secures Dep't of Justice clearance for Modelo move
Anheuser-Busch InBev has been cleared to proceed with its takeover of Grupo Modelo
The brewer said today (19 April) that a proposed "final judgement" has been filed with the US court where the DoJ originally launched its anti-trust lawsuit in January. The US$20.1bn acquisition of the half of Modelo that A-B InBev does not yet own, is now expected to complete in June, the Belgium-headquartered brewer said.
The deal will also see Constellation Brands buy out Modelo's share in their Crown Imports US sales and distribution JV. Constellation will take the perpetual rights to Modelo's brands in the US and acquire the Mexican brewer's Compañía Cervecera de Coahuila brewery, in Piedras Negras, Mexico. The concessions were agreed in February as a result of the DoJ's anti-trust concerns.
Once the court agrees for the deal to go head, A-B InBev, Modelo and Constellation said they "intend to move swiftly to complete the pending transactions". The Mexican competition authorities approved the proposed buy-out earlier this month.
However, the companies may not have overcome their final stumbling block. A-B InBev is still facing a separate lawsuit filed last month by nine individuals seeking to block the move. The complaint claims that the deal would impact consumers through higher prices, “elimination of quality, curtailment of innovation, and destruction of consumer choice”.
Two entities expressed "serious interest" in buying collapsed wholesaler Waverley TBS after it called in administrators last year, it has emerged. ...
- How to turn a domestic spirit into a global brand
- Mahou San Miguel - just the Facts
- A game of two halves for Remy Cointreau - Analysis
- Whatever happened to binge Britain? - comment
- Britvic hits make-or-break time for US Fruit Shoot
- Beam Suntory to sell brandy & sherry to Emperador
- Former Diageo exec joins William Grant in LatAm
- A-B InBev mulls sale of Peroni, Grolsch - report
- This week in spirits & wine
- Poland warning sends Stock Spirits shares tumbling
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Future growth opportunities for global spirits
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Global Beer Market 2015-2019
- Global Wine Market to 2019 - Market Size, Development, and Forecasts