|
Anheuser-Busch buys remaining stake in India venture
2008-06-20
WASHINGTON (AFP) - US beer giant Anheuser-Busch, facing a politically charged takeover bid, said Friday it would buy the 50 percent stake it does not already own of the Crown Beers India Ltd. joint venture. Terms of the deal with its partner, Crown International, were not disclosed. Anheuser-Busch, maker of Budweiser and other beers, earlier this month said it was reviewing a 46-billion-dollar unsolicited bid from Belgian-Brazilian global sector leader InBev. Executives of the company have not publicly commented on that offer, but political leaders in the company's home state of Missouri have opposed the deal for what they call an American icon. The deal with Crown Beers includes the joint venture's 500,000-hectoliter brewery in the southern city of Hyderabad. "The Indian beer industry continues to grow at a rapid pace, and acquiring the remaining 50 percent of the Crown Beers joint venture reaffirms Anheuser-Busch's commitment to being a key player in this emerging beer market," said Tom Santel, president and chief executive officer, Anheuser-Busch International, Inc. "As Crown International looks to focus on its other successful businesses, this move will continue to best position the Budweiser brand for long-term growth in India." Crown International and Anheuser-Busch formed Crown Beers India Ltd. in early 2007, and introduced the Budweiser brand and Armstrong throughout southern and western India. Anheuser-Busch said earlier in the day that Carlos Fernandez G., chairman and chief executive officer of Mexican brewer Grupo Modelo, had resigned from the US firm's board. The US company owns a 50 percent stake in the maker of beers including Corona.
|  |
 Anheuser-Busch, MillerCoors: price hikes in fall (2009-08-25) | | Super Bowl ads promise glitz, guffaws, groans (2009-01-31) | | More jobs carnage: 573,000 file for unemployment (2008-12-11) | | Anheuser-Busch InBev to cut 1,400 US jobs (2008-12-08) | | Job cuts cast pall on outlook, but markets look ahead (2008-12-08) | | Fore! Woods' split with GM a warning for athletes (2008-11-29) | | Wall Street pulls off final-hour rebound (2008-11-18) | | States ask MillerCoors to pull energy drink (2008-09-17) | | InBev CEO Brito: Brazil to Belgium to Bud (2008-07-20) | | Anheuser-Busch being sold to InBev for $52B (2008-07-14) | | InBev snags Anheuser-Busch and its marketing clout (2008-07-14) | | Anheuser-Busch reportedly agrees to InBev sale (2008-07-13) | | Reports: InBev, Anheuser-Busch talking (2008-07-11) | | The buck doesn't stop here; it just keeps falling (2008-07-06) | | InBev to keep pursuing Anheuser bid despite rebuff (2008-07-01) | | Anheuser-Busch to reject $46.3 billion InBev offer (2008-06-26) |  Anheuser-Busch buys remaining stake in India venture (2008-06-20) | | US governor, beer lovers vow to fight sale of Anheuser-Busch (2008-06-12) | | Politics an obstacle for InBev's Anheuser-Busch bid (2008-06-12) | | Anheuser-Busch says InBev makes $46B buyout bid (2008-06-11) | | InBev close to financing for Anheuser bid: report (2008-06-01) | | St. Louis worries it may lose Anheuser-Busch (2008-05-28) | | InBev weighs Anheuser bid but no talks yet (2008-05-27) | | InBev/Anheuser talks seen soon, SABMiller soars (2008-05-27) | | Hollywood hopes theme parks, superheroes fly in Middle East (2008-04-19) |
|
|
|
|
|
