US: Judge gives A-B InBev, DoJ more time over Modelo deal concerns - report
The deal has faced a legal challenge from the US Department of Justice
The brewer, along with Constellation Brands, last week requested another delay to reach an agreement with the Department of Justice (DoJ), which launched an anti-trust lawsuit in January. Yesterday (9 April) Reuters reported that the request for a stay in proceedings until 23 April has been granted by the court.
A previous request for a delay was granted last month.
However, the companies said last week that an “agreement in principle” has been reached with the DoJ.
Constellation is aiming to buy out Modelo's share in their Crown Imports US sales and distribution JV, as a result of the deal. A-B InBev was also forced to make concessions on the deal in February, which will see Constellation 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.
However, A-B InBev is still facing a separate lawsuit filed last month by nine individuals seeking to block the deal.
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