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News Breaks | | | | March 15, 2013 | | 16:13 EDT |  | STZ, BUD | Constellation says substantial progress made in DoJ discussions
Constellation Brands (STZ), Anheuser-Busch InBev (BUD), Grupo Modelo, and Crown Imports have made substantial progress in their discussions with the U.S. Department of Justice, or DoJ, toward resolution of the DoJ's litigation, relating to AB InBev's proposed acquisition of the remaining stake in Grupo Modelo it does not already own, based on the terms of the revised transaction announced on Feb. 14. The companies and the DoJ jointly approached the court to request an extension of the stay on their current litigation, currently due to expire on March 19, to April 9. The parties agree that an extension of the current stay will likely enable the parties to complete their discussions. | |
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News For STZ;BUD From The Last 14 Days Check below for free stories on STZ;BUD the last two weeks. |
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| June 14, 2013 | | 07:32 EDT |  | BUD | AB InBev added to European Analyst Focus List at JPMorgan
 Subscribe for More Information | | | 06:03 EDT |  | BUD | AB InBev coverage reinstated with an Overweight at JPMorgan
Subscribe for More Information | | | June 7, 2013 | | 16:07 EDT | | BUD, STZ | Constellation completes acquisition of Grupo Modelo's U.S. beer business
Constellation Brands (STZ) announced that it has completed its acquisition of Grupo Modelo's U.S. beer business from Anheuser-Busch InBev (BUD) for approximately $4.75B. The transaction includes full ownership of Crown Imports LLC which provides Constellation with complete, independent control of all aspects of the U.S. commercial business; a state-of-the-art brewery in Nava, Mexico; exclusive perpetual brand license in the U.S. to import, market and sell Corona and the Modelo brands Crown currently sells and the freedom to develop brand extensions and innovations for the U.S. market. With the close of the acquisition, Constellation begins to operate as one company with two divisions: a beer division and a wine and spirits division. A brewery operations group has also been established to manage the expansion and integration of the Nava brewery. Constellation plans to invest $500M-$600M during the next three years to expand the facility to double its current capacity to meet projected demand for products in the U.S. | |
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