AB InBev, DOJ Seek Extension In Modelo Antitrust Case

(RTTNews.com) - Anheuser-Busch InBev NV/SA( BUD ), Grupo Modelo, S.A.B. de C.V., Constellation Brands (STZ, CBR.AX, STZ-B) 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 purchase of the remaining stake in Grupo Modelo it does not already own.

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 would enable the parties to complete their discussions. If the parties reach an agreement, they would file a proposed consent judgment and related documentation with the Court. There can be no assurance that the ongoing discussions would be successful.

AB InBev shares closed Friay's trading at $95.43 on the NYSE, down $0.83 or 0.86 percent. In after hours, the stock gained marginally 0.01% at $95.44.

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