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The acquisition by Constellation is subject to customary closing conditions and final court approval by The Supreme Court of South Australia. The final court approval is expected to occur March 27, 2003.
BRL shareholders have until 5:00pm (Adelaide time) on April 4th to make an election as to the form of consideration for their shares. BRL shareholders may elect all cash, Constellation stock, or a combination thereof. The Constellation share price and exchange rate to be used to calculate the stock exchange ratio will be based on the volume weighted average share price and the average Australian dollar to U.S. dollar exchange ratio for the ten full trading days of Constellation stock up to and including March 25, 2003.
The Constellation share price and exchange rate to be used to calculate the stock exchange ratio will be published on BRL Hardy's website (www.brlhardy.com.au) and may also be accessed from the Australian Stock Exchange's web site (www.ASX.com.au) on March 26, 2003. The transaction is expected to close early April 2003.
About Constellation
Constellation Brands, Inc. is a leading producer and marketer of beverage alcohol brands, with a broad portfolio of wine, spirits and imported beer. The Company is the largest single-source supplier of these products in the United States, and both a major producer and independent drinks wholesaler in the United Kingdom. Well-known brands in Constellation's portfolio include: Corona Extra, Pacifico, St. Pauli Girl, Black Velvet, Fleischmann's, Estancia, Simi, Ravenswood, Blackstone, Banrock Station, Alice White, Talus, Vendange, Almaden, Arbor Mist, Stowells of Chelsea and Blackthorn.
About BRL Hardy
BRL Hardy Limited is a leading Australian producer and exporter of wine, with products sourced from Australia, New Zealand and France. The company's wines are distributed worldwide through a network of sales and marketing operations, with the majority of sales generated in Australia, the United Kingdom and the United States. Major export brands include: Hardys Stamp of Australia, Hardys Nottage Hill, Hardys VR and Banrock Station. Other domestic and international brands include: Houghton, Nobilo, Leasingham, Moondah Brook, Yarra Burn, Stonehaven, Stanley and Renmano.
Forward-Looking Statements
The statements set forth in this press release, which are not historical facts, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by the forward-looking statements. There can be no assurance that any forward-looking statement in this press release will be realized.
SOURCE Constellation Brands, Inc.
CONTACT:
Investor Relations, Emilio Ruocco, +1-585-218-3667, Mark
Maring, +1-585-218-3668, or Public Relations, Ginny Clark, +1-585-218-3669,
all of Constellation Brands
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URL: http://www.cbrands.com
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