Round-Up - The Trials and Tribulations of Belvédère
France-based Belvédère Group has spent the last year juggling its debt, while looking for a suitor to buy its Marie Brizard unit. Here's the back-story and the latest
Belvédère needs to wrap up the sale of Marie Brizard, and soon, or market jitters could spell serious problems.
Belvédère has suffered a potentially serious setback to its financial recovery plan after a court confirmed that the French drinks group must pay back debt more quickly than previously expected.
Belvédère has announced the signature of an agreement with Global Emerging Markets Group (GEMG) with the US firm set to invest up to EUR70m (US$89m) in the drinks group over the next three years.
Troubled French drinks group Belvédère has seen net losses for 2009 plunge to EUR177.6m (US$234m).
French drinks group Belvédère is in negotiations with several potential candidates over the sale of its Marie Brizard business, which produces William Peel Scotch whisky.
A commercial court in Dijon, eastern France, has approved a relaunch plan presented by embattled French drinks group Belvédère that will reschedule the group's debt over 10 years.
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