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A-B delayed in bid to increase stake in Grupo Modelo

Published on .

ST. LOUIS - Anheuser-Busch Cos. and Grupo Modelo, S.A. de C.V., Mexico City, have been unable to finalize an agreement in which A-B would increase its stake in Mexico's No. 1 brewer from 17.7% to 37%. Citing "differences of opinion" regarding purchase price adjustments, the two companies said they will continue discussions and seek binding arbitration if necessary.

A-B purchased its initial stake in the brewer in 1993 with the option to increase its interest as high as 50.2%, but that option must be exercised by the end of 1997.

Copyright February 1997, Crain Communications Inc.

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