Check Out more news from the Anheuser-Busch front.
The company, which owns half of Mexico’s Groupo Modelo, said Modelo’s chief executive Carlos Fernandez resigned from Anheuser’s board, even as the American beer company tries to thwart an unsolicited takeover bid from Belgian-Brazilian brewer InBev NV.
Modelo is an important player here — it has been approached by Anheuser about a possible combination, according to the Wall Street Journal, while Reuters’ sources, who are familiar with the situation, have said that InBev also courted the Mexican company.
Separately, Anheuser also said that it will acquire the remaining 50 percent stake of the Crown Beers India Ltd joint venture from partner Crown International.
Crown International and Anheuser formed the Crown Beers India venture last year to distribute Budweiser and Armstrong, a beer developed specifically for India, throughout southern and western India.
Also in the basket:
InBev: US Anheuser breweries to stay after merger
EU raids detergent firms on suspicion of price fixing
Retail companies mull tactics ahead of holidays
Trying to hide price hikes with trends, fabrics
Clothing makers see fashion in color, detail
(Photo: Reuters)
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