Stars Align for Winemaker Constellation
Stars Align for Winemaker Constellation
Jul 1, 2012 6
(WSJ) - One big winner in Belgian brewer Anheuser-Busch InBev NV's (ABI.BT +3.88%) $20 billion planned takeover of Mexico's Grupo Modelo SAB: Constellation Brands Inc., (STZB +24.25%) a wine company from upstate New York.
In a surprise development, the maker of Robert Mondavi and Clos du Bois wines is poised to control U.S. imports of popular Modelo beers, including Corona Extra, for at least the next decade. AB InBev, the world's largest brewer by volume, agreed to sell those rights to Constellation for $1.85 billion in a side deal meant to allay antitrust concerns over the Modelo purchase.
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