The King of Beers Gets a Crown

IT MAY BE THE MOST POTENT SYMBOL YET OF THE new economic order being ushered in by the North American Free Trade Agreement: Anheuser-Busch, makers of Budweiser, the basic American workingman's beer, has agreed to buy 18% of the Mexican maker of Corona, favored foam of gringo yuppiedom. Anheuser-Busch, the St. Louis-based sultan of suds, has paid $477 million for nearly a fifth of Grupo Modelo, S.A. de C.V., the king of beers south of the border. The deal, which could be the first step toward an even greater presence in the Modelo empire, is Anheuser-Busch's first major investment in a big-time foreign brewery. The move marks a departure for the American brewer -- entering foreign markets by buying into popular local brands rather than pushing its own.