Bud brewer in 'discussions' with Corona maker
BRUSSELS, Belgium - The world's top brewer Anheuser-Busch InBev, maker of Budweiser, Beck's and Stella Artois, said Monday it is in "discussions" with Mexico's Grupo Modelo, the maker of Corona.
"There have been discussions between the company and Grupo Modelo regarding a possible transaction to expand its current relationship," AB InBev said in a statement after US media reports said the company was set to take control of the Mexican firm in a $12-billion deal (9.6 billion euros).
InBev already owns a 50 percent stake in Grupo Modelo.
"These discussions may or may not lead to a transaction and any speculation on terms and conditions is therefore premature," the statement added.
AB InBev underlined a "long history of partnership" between the two companies and a "great admiration for the Modelo business and its brands."
Trading in AB InBev were briefly suspended on the Brussels stock exchange for the release of the statement, shares changing hands up 1.97 percent at 56.725 euros come close.
The company was created in 2008 with the $52-billion-dollar merger of Belgian-Brazilian brewer InBev and US company Anheuser-Busch.
The Wall Street Journal said a deal would give AB InBev full control of Corona, one of the world's biggest selling beer brands and the No. 1 imported lager in the United States.
In their last accounts posted at the end of April, AB InBev reported a 75 percent jump in first quarter net profits to $1.69 billion and a 6.2 percent rise in turnover to $9.33 billion.
It cited then, for instance, double digit growth by volume in China for Budweiser. - Agence France-Presse