Mexico: Grupo Modelo SA to appeal antitrust ruling against exclusivity contracts
Mexican brewer Grupo Modelo SA said it plans to appeal an antitrust ruling against exclusivity contracts at its own beer shops, MarketWatch released August 22.
In a filing August 21 with the Mexican Stock Exchange, Modelo said it was notified of a Federal Competition Commission ruling that the exclusivity at the beer stores should be ended. The commission imposed no sanctions, Modelo added.
Modelo, the maker of leading Mexican export Corona and other brands, said it doesn't expect the ruling to have any effect on its sales or operating results.
"Notwithstanding this, Grupo Modelo is firmly convinced that it has always acted in strict accordance with existing laws, and doesn't share the conclusions reached by the commission in a split vote," the company said.
Modelo, which is half-owned by Anheuser-Busch Cos, shares the Mexican beer market about evenly with rival brewer Fomento Economico Mexicano SA, or Femsa.
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