US: Fortune takes legal action to stop Beam stake transfer
Fortune Brands, who owns a 90% stake in Beam, filed the court papers on Monday in a US District Court in Manhattan.
The drinks giant wants to repurchase V&S's stake but has been unable to agree on a "fair market value" for the shares, according to the court papers.
When contact by just-drinks today, V&S declined to comment or speculate on the matter but confirmed they had received the injunction.
Consumer markets may be bracing themselves for the impact of the economic downturn, but Patrón Spirits Company has no intention of being deflected from its marketing-led growth strategy. In this month...
Patrón Spirits Company has joined the Distilled Spirits Council (DISCUS), in the US....
SPI Group has appointed Gabriel Bocti as official importer and distributor for Stolichnaya, Stolichnaya Elit, and Moskovskaya vodka in the Lebanese duty paid market....
Beam Global UK is teaming up with Scottish food and drink "professionals" to promote Teacher's Blended Scotch Whisky for the Christmas period....
An economic slowdown has caused more US consumers to trade down on drinks, but figures show that the premium spirits category remains buoyant, Diageo executives have said....
Bacardi USA has named Michael Misiorski as its new senior vice president and chief financial officer....
Diageo is exploring ways to improve its presence in the Indian state of Tamil Nadu, which prohibits the sale of alcoholic drinks bottled outside its borders....
Blavod Extreme Spirits has said that it has signed a licence agreement with the Shetland Spirits Company for the Diva vodka brand....
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