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Thursday, January 31, 2013

Mexico's Modelo says sale to AB InBev will not close in Q1, (NYSE: BUD)

Mexican brewer Modelo said on Thursday that Anheuser-Busch Inbev informed the company it will fight the U.S. Justice Department's lawsuit seeking to stop the Belgian-based brewer from buying the half of Modelo that it does not already own. Grupo Modelo no longer expects the deal to be completed in the first quarter, the company said in a statement to Mexico's stock exchange.The Mexican brewer added that it has no further comment on the U.S. Justice Department's announcement.

Anheuser Busch Inbev SA is a brewing company. The Company produces, markets, distributes and sells a balanced portfolio of approximately 200 beer brands. Shares of BUD fell by 6.78% or $-6.38/share to $87.76. In the past year, the shares have traded as low as $62.59 and as high as $94.49. On average, 885518 shares of BUD exchange hands on a given day and today's volume is recorded at 5806659.