Constellation Brands Statement Regarding Discussions with DOJ
(Thomson Reuters ONE) -
~Agreement in principle reached with DOJ; Parties request extension of the
present stay of proceedings until April 23, 2013 to finalize proposed consent
judgment~
VICTOR, N.Y., April 5, 2013 - Constellation Brands, Inc. (NYSE: STZ and STZ.B),
Anheuser-Busch InBev (Euronext: ABI; NYSE: BUD), Grupo Modelo, S.A.B. de C.V.
(BMV: GMODELOC), and Crown Imports LLC have reached an agreement in principle
with the U.S. Department of Justice on a proposed resolution to the Department
of Justice's litigation challenging AB InBev's proposed acquisition of the
remaining stake in Grupo Modelo that it does not already own. The proposed
resolution is substantially in line with the revised transaction announced on
February 14, 2013.
In connection with this agreement, the parties and the Department of Justice
have jointly approached the Court and requested an extension of the stay of the
proceedings until April 23, 2013. This stay will allow the parties to finalize
the details of a proposed consent judgment and the related definitive agreements
and papers required for settlement. The parties stated in their filing with the
Court that they expect for this to be their final request to extend the stay.
Approval of the transaction, and the timing of such action, remain subject to
the finalization of the relevant documentation with the DOJ and other parties,
and approval by the Court.
The revised transaction with AB InBev remains subject to regulatory approval in
Mexico.
About Constellation Brands
Constellation Brands is the world's leading premium wine company that achieves
success through an unmatched knowledge of wine consumers, storied brands that
suit varied lives and tastes, and more than 4,400 talented employees worldwide.
With a broad portfolio of widely admired premium products across the wine, beer
and spirits categories, Constellation's brand portfolio includes Robert Mondavi,
Clos du Bois, Kim Crawford, Inniskillin, Franciscan Estate, Mark West, Ruffino,
Simi, Estancia, Corona Extra, Black Velvet Canadian Whisky and SVEDKA Vodka.
Constellation Brands (NYSE: STZ and STZ.B) is a S&P 500 Index and Fortune 1000®
company with more than 100 brands in our portfolio, sales in about 100 countries
and operations in approximately 40 facilities. The company believes that
industry leadership involves a commitment to our brands, to the trade, to the
land, to investors and to different people around the world who turn to our
products when celebrating big moments or enjoying quiet ones. We express this
commitment through our vision: to elevate life with every glass raised. To learn
more about Constellation, visit the company's website at www.cbrands.com.
CONTACTS
Media
Angela Howland Blackwell: 585-678-7141
Cheryl Gossin: 585-678-7191
Investor Relations
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Constellation Brands Inc via Thomson Reuters ONE
[HUG#1690897]
Unternehmensinformation / Kurzprofil:
Datum: 05.04.2013 - 23:05 Uhr
Sprache: Deutsch
News-ID 246484
Anzahl Zeichen: 3824
contact information:
Town:
Victor
Kategorie:
Business News
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