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News Breaks | | | | February 14, 2013 | | 05:31 EDT |  | BUD, STZ.B, STZ | AB InBev, Constellation Brands revise agreement for divestiture of Grupo Modelo
Anheuser-Busch InBev (BUD) and Constellation Brands (STZ, STZ.B) announced a revised agreement that establishes Crown Imports as the #3 producer and marketer of beer in the U.S. through a complete divestiture of Grupo Modelo's U.S. business. The transaction establishes Crown as a fully owned entity of Constellation, and provides Constellation with independent brewing operations, Modelo's full profit stream from all U.S. sales, and rights in perpetuity to the Grupo Modelo brands distributed by Crown in the U.S. AB InBev to sell Piedras Negras brewery and grant perpetual rights to Constellation for Corona and the Modelo brands in the U.S. for $2.9B. Constellation to acquire 50% of Crown that it does not own for $1.85B. The terms and merits of combination between AB InBev and Grupo Modelo relating to global deal remain unchanged. AB InBev synergy projection revised to approximately $1B from $600B. | |
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| June 12, 2013 | | 10:29 EDT |  | B | Barnes Group management to meet with Oppenheimer
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