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A-B to Terminate U.S. Importing Rights for Grolsch |
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Wednesday, 14 May 2008 |
Anheuser-Busch Inc. said Wednesday it has signed a letter of intent to terminate its U.S. importing rights to the Grolsch beer brands. Miller Brewing Co., a unit of SABMiller Plc, will become the importer of the Grolsch brands.
Financial terms of the deal weren't disclosed. Anheuser-Busch expects the transaction to close by Aug. 1. The company said the deal will provide "enhanced protections" for Anheuser-Busch equity wholesalers
Grolsch has been imported by Anheuser-Busch since April 2006 under an agreement with brand owner Royal Grolsch NV.
In February of this year, SABMiller acquired Royal Grolsch.
Shares of St. Louis-based Anheuser-Busch fell 42 cents to $51.63.
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