Dear Client: Capping off a three year probe, by a 4 to 1 vote the Federal Competition Commission (CFC) in Mexico has ruled that future exclusive contracts that Cuauhtemoc and Grupo Modelo have with retailers be limited in nature. The two brewers' exclusive contracts with retailers account for about 85% of total volume. The CFC ruled that craft brewers (such as Cerveceria Minerva and Primus) that manufacture beer in Mexico (under 100m hectos a year) should have unfettered access to
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