FRANCE: Bialystok fight could be court bound
The battle for control of Bialystok continues to twist and turn with French newspaper reports suggesting that Belvedere will turn to the courts if it feels it loses unfairly in its efforts to acquire the Polish distiller.
Les Echoes said today (28 June) that Jacques Rouvroy, CEO of French distiller Belvedere, has told the group's shareholders that if the conditions for the sale of a majority stake in Bialystok were changed to favour one candidate over another, legal proceedings would be launched.
Belvedere is one of three groups thought to be in the running for the acquisition of Bialystok, through its subsidiary Sobieski Dystrybucja. The other two companies are Central European Distribution Corporation and local distiller Polmos Lublin.
Last week, however, it was announced that Central European Distribution Corporation has entered into exclusive negotiations with the Polish Treasury Ministry to purchase 61% of the outstanding capital stock of Polmos Bialystok as part of the ongoing privatisation of the distillery.
The Polish Treasury Ministry has given CEDC until 6 July to finalise.
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