MEXICO: Modelo talks to Inbev following A-B victory
The Mexican company, which is 50%-owned by A-B, said today (14 July) that it is "reserving its contractual rights" in light of InBev's successful bid for A-B, also announced today.
"Under its agreements with A-B, Grupo Modelo has certain rights with respect to the potential transaction between InBev and A-B, including a consent right," Modelo said.
The company added that it has been in active discussions with InBev concerning "how the two companies can work together should Grupo Modelo consent to InBev becoming a minority owner of Grupo Modelo through its acquisition of A-B".
Modelo said that it was "confident" that its agreement with A-B "gives us the right to decide whether or not to consent to the potential acquisition of A-B by InBev.
"We have a great deal of respect for InBev and look forward to continuing our discussions with them and hope to find a resolution that meets the needs of both companies and their stakeholders," the company concluded.
During InBev's battle to acquire A-B, the US brewer reportedly considered making a move for the balance of Modelo, in an attempt to thwart InBev. Last month, Modelo's CEO, Carlos Fernandez, quit his position on A-B's board, although no link between the two was confirmed.
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