Monday, 21 July 2008

Approval of Budweiser deal lies in Mexican brewer's hands

IP Tango received this information from Juan M. Alvarez del Castillo V. (Cervantes, Aguilar-Alvarez y Sainz, S.C.) concerning an article published last week in the Reforma (Mexico City) newspaper:
“This Monday, Anheuser Busch, producer of famous beer Budweiser, accepted an offer made by the Belgium-Brazilian company Inbev, finally acquiring it for the modest price of US$52 billion. However, Grupo Modelo (Corona) notified both parties of the reservation made in its contractual right regarding Anheuser Busch –- owner of 50.2% stock of the Mexican corporation -- to grant consent in the mega-merger operation between them. "We are confident that this agreement, governed by Mexican law, grants us the right to decide if we accept (or not) the possible acquisition of Anheuser Busch by InBev", disclosed the Mexican corporation in a news bulletin. The Executive President from InBev, Mr Carlos Brito, said that he doesn’t see a problem from Grupo Modelo for the purchase of Anheuser-Busch, but on the contrary, foresees a great alliance with the Mexican brewery.”

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