Corona-Bud revise deal to appease regulators
- Associated Press
- February 14, 2013 - 5:45 AM
NEW YORK - Anheuser-Bush InBev is making changes to the terms of its proposed $20.1 billion purchase of Mexican brewer Grupo Modelo in an attempt to push a deal through that federal regulators say will kill competition.
The makers of Budweiser and Corona control about 46 percent of annual U.S. sales.
On Thursday AB InBev said that it would sell Modelo's Piedras Negras brewery and give perpetual rights for Corona and the Modelo brands in the U.S. to Constellation for $2.9 billion.
Modelo had planned to sell its half of Crown Imports to wine maker Constellation Brands Inc. in order to address antitrust concerns.
AB InBev rose nearly 4 percent in premarket trading Thursday, while Constellation jumped more than 13 percent.
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