AMERICAS: Grupo Modelo Launches Program, THE

Global Finance, Apr 2004

Grupo Modelo, Mexico's largest brewer, started a Level I American depositary receipt program in the US over-the-counter market with Bank of New York as depositary.

Grupo Modelo, whose Corona Extra brand is the leading imported beer in the US, is half-owned by St. Louis, Missouri-based Anheuser-Busch, which makes Budweiser, Bud Light, Michelob and other brands. Mexico City-based Grupo Modelo exports its beer to 150 countries and is the exclusive importer and distributor of Anheuser-Busch's products in Mexico.

Grupo Modelo is building a $64 million barley-malting facility in Idaho Falls, Idaho, adjacent to an Anheuser-Busch malting plant built in 1991.