Melissa Earlam News
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Diageo Plc, the world’s biggest distiller, reported third-quarter sales that missed estimates as sluggish European demand and slower-than-expected emerging- market growth offset expansion in the U.S.
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SABMiller Plc, the world’s second- biggest brewer, reported fourth-quarter beer sales that beat estimates as gains in Africa, Asia and Europe offset an unexpected decline in Latin America.
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Fraser & Neave Ltd. rose above Thai billionaire Charoen Sirivadhanabhakdi’s offer price as investors speculated that the Singapore-based company may attract a higher bid and Heineken NV considered its next step in a two-month battle to gain control of F&N’s beer business.
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Anheuser-Busch InBev NV and the U.S. said they are in talks to resolve the government’s lawsuit to block the brewer’s purchase of Grupo Modelo SAB and asked to suspend the litigation until March 19.
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Anheuser-Busch InBev NV and U.S. regulators are proceeding with talks to allow the company to acquire Grupo Modelo SAB even after the government filed a lawsuit to stop it, said people familiar with the matter.
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Anheuser-Busch InBev NV, the world’s biggest brewer, offered to cede full control of Corona distribution in the U.S. to Constellation Brands Inc. for $2.9 billion in a bid to salvage its purchase of Grupo Modelo after U.S. regulators sued to block the deal.
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Diageo Plc, the world’s largest distiller, maintained its pace of profit growth in the first half as it shifted away from the depressed economies of Europe and toward faster-growing emerging markets.
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Diageo Plc, the world’s biggest distiller, reported third-quarter sales growth, as sales in emerging markets and higher-priced spirits in the U.S. offset declines in Europe.
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Anheuser-Busch InBev NV’s push to acquire full ownership of Grupo Modelo SAB is moving the beer industry into the final stages of a decade-long consolidation.
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Private equity lawyer William Kirsch joined Baker & McKenzie LLP’s Chicago office where he will head the firm’s North American private equity practice. Stacey Kern and Garry Jaunal, also private equity attorneys, have joined the firm, too, bolstering its domestic practice.
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