MOLSON AND COORS DRAW UP A NEW DEAL
By Adnews Staff
Toronto-based Molson Cos. Ltd. has reached a deal with U.S.-based Adolph Coors Co. to continue brewing Coors beer in Canada. Under the new agreement, Coors competitor, U.S.-based Miller Brewing Co., will not make any profit from selling Coors in Canada. Miller owns 20% of Molson's brewing arm. Foster's Brewing Group of Australia owns 40%. The arrangement will have Coors owning 50.1% of the brewing arm, while Molson and Foster's will own 24.95% each. Molson found itself in hot water earlier this year because of a previous agreement between the Molson and Coors. Molson had to pay Coors $100 million in compensation because Miller has a 20% stake in Molson.
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