MEXICO CITY, July 14 /TMRzoo.com/ — Grupo Modelo, S.A.B. de C.V. and Subsidiaries (GMODELOC), the leading brewer in Mexico, today announced that in light of the proposed transaction between Anheuser-Busch (NYSE:BUD) and InBev (EURONEXT: INB), Grupo Modelo has advised both parties that it is reserving its contractual rights. Under its agreements with Anheuser-Busch, Grupo Modelo has certain rights with respect to the potential transaction between InBev and Anheuser-Busch, including a consent right.
Grupo Modelo noted that it has been in active discussions with InBev regarding how the two companies can work together should Grupo Modelo consent to InBev becoming a minority owner of Grupo Modelo through its acquisition of Anheuser-Busch.
Grupo Modelo released the following comment:
Our agreement with Anheuser-Busch was carefully constructed to ensure we have a definitive say in who our partner is. We are confident that our agreement, which is governed by Mexican law, gives us the right to decide whether or not to consent to the potential acquisition of Anheuser-Busch 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.
About Grupo Modelo
Grupo Modelo, founded in 1925, is the leader in Mexico in beer production, distribution and marketing, with 63.0% of the total (domestic and export) market share, as of December 31, 2007. It has seven brewing plants in Mexico, with a total annual installed capacity of 60 million hectoliters. Currently, it brews and distributes 12 brands, including Corona Extra, the number one Mexican beer sold in the world, Modelo Especial, Victoria, Pacifico and Negra Modelo. It exports five brands and is present in 159 countries. It is the importer of Anheuser-Busch’s products in Mexico, including Budweiser, Bud Light and O’Doul’s. It also imports the Chinese Tsingtao brand and the Danish beer Carlsberg. Through a strategic alliance with Nestle Waters, it produces and distributes in Mexico the bottled water brands Santa Maria and Nestle Pureza Vital, among others. Grupo Modelo trades in the Mexican Stock Exchange since 1994 with the ticker symbol GMODELOC. It also quotes as an ADR under the ticker GPMCY in the OTC markets and in Latibex in Spain as XGMD.