UK: Allied Domecq Statement re Seagram.

By Company Press Release | 13 December 2000

Allied Domecq announced today that it did not submit a bid in the auction of the Seagram Wines and Spirits business as it would not have been in the interests of its shareholders. The Board of Allied Domecq took the decision after evaluating the commercial and strategic benefits already gained for the company from today's announcement of the acquisition of the Mumm and Perrier-Jouet champagne businesses, the award of the exclusive right to distribute Stolichnaya in the USA and the agreement with Destileria Seralles for the future ownership of Captain Morgan Rum.

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Allied Domecq announced today that it did not submit a bid in the auction of the Seagram Wines and Spirits business as it would not have been in the interests of its shareholders. The Board of Allied Domecq took the decision after evaluating the commercial and strategic benefits already gained for the company from today's announcement of the acquisition of the Mumm and Perrier-Jouet champagne businesses, the award of the exclusive right to distribute Stolichnaya in the USA and the agreement with Destileria Seralles for the future ownership of Captain Morgan Rum.

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