BELGIUM: InBev gets Tsingtao stake, sweats on Modelo
Speaking to just-drinks today (11 September), a spokesperson for InBev confirmed reports earlier this week that the company has signed an agreement with Tsingtao Brewery Group, the Chinese brewer's largest shareholder, securing the takeover of A-B's 27% holding in Tsingtao, once the $52bn acquisition has completed.
"The signing of the agreement with Tsingtao's majority shareholder is a normal step as we work towards completion (of the purchase)," the spokesperson said.
At the same time, however, the spokesperson said that InBev's talks to secure a similar agreement with Mexico's Grupo Modelo - in which A-B holds a 50% non-controlling share - remain "ongoing".
"We are still talking with Grupo Modelo," the spokesperson continued. "These talks have not yet been concluded." The spokesperson said a date for conclusion of these talks had not been set.
During the acquisition battle earlier this summer, Modelo's CEO, Carlos Fernandez, quit his position on the board of A-B, soon after speculation suggested A-B was considering buying full control of Modelo to ward off InBev's advances.
Analysts, meanwhile, have disputed whether Modelo would be legally entitled to opt out of a deal with InBev. But one analyst told just-drinks in July that a partnership made sense for both companies, offering InBev better access to Mexico and Modelo improved distribution. "Modelo is going to have to think about a way to increase international exports," the analyst said.
Belgium-based beer giant Anheuser-Busch InBev saw its fourth-quarter profit plummet 95% yesterday (5 March), hurt by restructuring charges and poor beer sales. Michelle Russell looks at the reaction t...
The top ten stories published on just-drinks this week:...
Anheuser-Busch InBev has reported a fall in net profit for 2008, with slowing global beer sales in the fourth quarter....
AmBev, the subsidiary of Anheuser-Busch InBev, has reported a 6.5% net sales rise for 2008, as price increases helped to offset beer volume decline in the group's native Brazil....
AmBev, the division of Anheuser-Busch InBev, is to cut 146 jobs in Brazil by closing one of its drinks factories in the state of Sao Paulo....
See the top stories published on just-drinks this week....
Anheuser-Busch Inbev subsidiary Pivovary Staropramen has dismissed reports that it is to be sold as "mere speculation"....
Carlsberg is set to take over distribution of Modelo beer brand Corona Extra in several Eastern European markets, including Russia....
- AB InBev, SABMiller - Here's what'll happen next
- Is time right for TWE to move for Diageo's wines?
- Is Brown-Forman at the end of the SoCo road?
- Will a sexed-up SABMiller tempt AB InBev?
- Is Brown-Forman doing a Jack Daniel's in Ireland?
- AB InBev makes formal offer for SABMiller
- Diageo secures Xerox Corp CFO as finance head
- Tesco pulls several Carlsberg SKUs in UK
- Diageo makes US$780.5m beer deal with Heineken
- SABMiller formally rejects AB InBev's offer
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research