Mexican brewer Grupo Modelo to exercise rights in InBev buyout

MEXICO CITY — The head of Mexican brewer Grupo Modelo SAB, which is half-owned by Anheuser-Busch Cos. Inc., said the company has been talking with InBev SA about its contractual rights regarding the Belgian brewer's buyout of Anheuser-Busch.

Carlos Fernandez, chief executive of the maker of Corona and Negra Modelo, said Modelo has rights to be able to choose whether it enters a partnership with InBev, since it will become Anheuser-Busch's new owner.

"Our agreement with Anheuser-Busch, signed in 1993, was carefully constructed to ensure we have a definite say in who our partner is," Fernandez said. "Grupo Modelo is reserving its contractual rights."

He said the company has been talking to InBev and its management team over the past few weeks on how they would work together, should the company become a minority owner of Grupo Modelo.

Fernandez said he wouldn't provide any other details until there are developments. But he said he was optimistic the company could reach a solution that would benefit its shareholders.

Anheuser-Busch, the maker of Bud Light and Budweiser, agreed earlier this month to sell itself to InBev in a deal worth $52 billion.

It owns a roughly 50 percent, non-controlling stake in Modelo, which is Mexico's largest beer producer.