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US: Beer wars resolved? Possible settlement reached with DOJ

By  |  April 8, 2013
US: Beer wars resolved? Possible settlement reached with DOJ

As the fight for Constellation Brands to sell Grupo Modelo to Anheuser-Busch InBev for $20.1 billion continues, the parties have reportedly reached an agreement with the Department of Justice “in principle.” The DOJ sued over the acquisition, citing competition concerns, especially as AB InBev already stands as the globe’s largest beer brewer. Constellation and AB InBev have reportedly said that the possible agreement is aligned to a previous divesture agreement in which AB InBev would sell Modelo’s Piedras Negras brewer in Mexico to Constellation. Additionally, AB InBev would sell the rights to the Corona brand, and other Modelo brands, to Constellation within the US for $2.9 billion. Constellation shares rallied on Wall Street in response to the news.

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