Anheuser-Busch, Grupo Modelo continue discussions.ST. LOUIS--(BUSINESS WIRE)--Feb. 10, 1997--Anheuser-Busch Companies, Inc. and Grupo Modelo Grupo Modelo is a large brewery in Mexico. It maintains a large part of the Mexican beer export market and produces top-selling imported beer in the United Kingdom, United States and Canada. , S.A. de C.V., were unable to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... Anheuser-Busch's purchase of a larger share of Mexico's largest brewer today as scheduled because of differences in opinion concerning certain purchase price adjustments, company officials announced. The investment agreement between the two companies spells out measures for resolving such disputes. The companies will follow those procedures, which include continued discussions and, if necessary, binding arbitration. "We're optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that the transaction can be completed in the near future," said Anheuser-Busch Chairman of the Board and President August A. Busch III. In 1993, Anheuser-Busch purchased a 17.7 percent direct and indirect interest in Grupo Modelo and its Diblo subsidiary. At that time the company also secured options to purchase a larger equity position up to 50.2 percent. Those options could be exercised between mid-1995 and the end of 1997. In December, the Board of Directors of Anheuser-Busch approved the purchase of an additional 25 percent of Grupo Modelo. That would bring Anheuser-Busch's total direct and indirect holdings in the company and its subsidiaries to 37 percent. Required due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. work has been under way for the last six weeks. "This is a relationship that is beneficial to both companies," Busch said. "We anticipate settling this difference of opinion through the measures specified in the purchase agreement and moving forward." Anheuser-Busch Companies is the parent company of the world's largest brewer, Anheuser-Busch, Inc. The company's Budweiser and Bud Light brands are the largest sellers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Modelo is Mexico's number one brewer, with a 56 percent market share. Its best known brand is Corona Corona, city, United States Corona (kərō`nə), city (1990 pop. 76,095), Riverside co., S Calif.; inc. 1896. The city developed as a primary citrus fruit producer and shipping center. There is also light manufacturing. . The company operates six breweries See for an up to date listing of all the breweries detailed on Wikipedia, sorted into regions. Africa
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CONTACT: Terri Vogt or Thom Gross, for Anheuser-Busch Companies, 314/982-1700 |
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