Constellation Brands says has reached agreement in principle with DOJ on Modelo

theflyonthewall.com

Says finalization of agreement will allow company to proceed with the acquisition of the remaining 50% interest in Crown Imports as well as the Piedras Negras Brewery in Mexico and the perpetual brand rights for the Modelo portfolio in the U.S. Says received unanimous approval from the Mexican anti-trust commission earlier this week. Says Modelo deal "most transformational". Says believes deal will allow it to nearly double the sales of the company. Says will enter into transition services agreement with ABI for brewery operations, general management assistance. Comments made on the Q4 earnings conference call.

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