NZ: Authorities clear Pernod wine acquisitions
New Zealand's Commerce Commission has cleared Pernod Ricard S.A. to acquire the entire share capital of Allied Domecq plc.
However, the clearance is subject to the divestment of the Lindauer, Aquila, Italiano, Chardon and Chasseur brands currently owned by Allied.
Pernod has given Diageo the right to acquire much of its New Zealand wine business once the French company completes its Allied acquisition. Diageo is currently reviewing its options, but if it decides to exercise that right, Pernod will be left with only the Corbans, Stoneleigh and Church Road brands in New Zealand.
Commission chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the New Zealand markets for wine and gin.
The Commission also cleared Fortune Brands, to acquire certain Allied Domecq plc brands and assets from Pernod Ricard S.A. This acquisition is conditional on Pernod Ricard acquiring Allied Domecq.
Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the New Zealand markets for the importation or production of bourbon for distribution.
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
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