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Miller completes Canadian deal.

Miller Brewing Co. said it has completed its acquisition of 20 percent of Molson Breweries and 100 percent of Molson's U.S. distribution.

The price for Molson, Canada's largest brewer, was reported at $273 million, plus the net book value at closing of Molson Breweries US Holdings Inc. which handles imports.

Miller is also to pay a royalty on its U.S. sales of Molson and Foster's, an Australian brew that Molson imports.

Under the terms of the agreement Miller will get representation on Molson's board of directors.

Pabst Brewing Co. had earlier tried to block the sale from going through, citing antitrust laws. The request for an injunction was rejected by a federal judge in Texas, three appellate judges and four U.S. Supreme Court justices, clearing the way for the Molson transaction.
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Title Annotation:Miller Brewing Co.
Publication:Modern Brewery Age
Date:Apr 12, 1993
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