April 19 Mexican brewer Grupo Modelo said on
Friday its first-quarter profit rose 9 percent, helped by a
slight pickup in revenue and lower currency losses, as the peso
strengthened in the quarter.
Corona-maker Modelo said quarterly profit rose
to 2.465 billion pesos ($200 million) from 2.259 billion pesos a
year earlier. Revenue rose 3 percent to 21.98 billion pesos.
Anheuser Busch InBev SA, the world's largest
brewer, is seeking to buy the 50 percent of Modelo that it does
not already own for $20.1 billion.
The U.S. government filed a lawsuit in January to stop that
deal, on concern that it could lead to higher beer prices in the
Earlier this month, however, the judge overseeing the fight
approved a stay in court proceedings to give the two sides more
time to reach an agreement.