UPDATE 1-Constellation to buy back shares

* To buy back 11 million shares

CHICAGO, April 19 (Reuters) - Spirits and wine company Constellation Brands Inc (STZ.N) said on Monday it will pay $300 million to repurchase about 11 million shares in an accelerated repurchase deal through Goldman Sachs.

The maker of Svedka vodka and Robert Mondavi wine will finance the repurchase using funds from its existing $842 million credit facility.

A price per share will be determined based on average volume weighted prices of the stock from April 19 through no late than May 17, the company said in a regulatory filing. Goldman may have to deliver more shares to Constellation based on that average price, the filing said.