AB InBev Abandons Plans To Acquire Budvar
PRAGUE (AP) -- Brewing giant Anheuser-Busch InBev says it no longer has plans to acquire Czech brewer Budejovicky Budvar, with whom it has been fighting a long legal battle over the use of the "Budweiser" brand.
Frank Hellwig, legal director for AB InBev, says "we don't have any plans, or intention, or desire to buy Budvar" as a way of solving the dispute.
Hellwig said Thursday that such an acquisition, which it had considered in the past, doesn't make commercial sense since AB InBev is doing well registering its Budweiser brand in new countries despite the dispute.
Budvar has been fighting for over a century with Anheuser-Busch over use of the Budweiser brand, to which both companies claim a right.
The dispute continued after Anheuser-Busch was bought by Belgian brewer InBev in 2008.