A-B and Redhook Extend Relationship

Redhook and A-B have agreed "in principle" to extend their relationship (see BBD 03/29/2004). While the t's haven't been crossed, the new agreement is expected to be completed before June 30, 2004. Their current contract has a provision which allows it to be terminated by Dec. 31, 2004. While A-B currently owns 29% of Redhook, the new agreement provides for A-B to increase its stake to 34%. Redhook, in turn, will pay $2 million to A-B prior to December 1,