2013-03-15 21:11:44 -
VICTOR, N.Y., March 15, 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 made substantial progress in their
discussions with the U.S. Department of Justice toward resolution of the
Department of Justice's litigation, relating to AB InBev's proposed acquisition
of the remaining stake in Grupo Modelo it does not already own, based on the
terms of the revised transaction announced on Feb. 14, 2013.
Today, the companies and the Department of Justice jointly approached the Court
to request an extension of the stay on their current litigation, currently due
to expire on March 19, 2013, to April 9, 2013. The parties agree that an
extension of the current stay will likely enable
the parties to complete their
discussions. If the parties reach an agreement, they will file a proposed
consent judgment and related documentation with the Court. There can be no
assurance that the ongoing discussions will be successful.
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.
Angela Howland Blackwell: 585-678-7141
Cheryl Gossin: 585-678-7191
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
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Source: Constellation Brands Inc via Thomson Reuters ONE