Mexican brewer Modelo net up 32.5 pct

MEXICO CITY Oct 28 (Reuters) - Mexican brewer Grupo Modelo posted on Wednesday a 32.5 percent rise in third-quarter net profit on solid sales and said there was no change in its arbitration process against partner Anheuser-Busch InBev NV (ABI.BR).

Modelo (GMODELOC.MX) earned 2.948 billion pesos ($218 million) in the July-September period compared with 2.225 billion pesos in the same quarter of 2008. ($1 = 13.5035 pesos as of end Sept) (Reporting by Cyntia Barrera Diaz, editing by Gerald E. McCormick)