Cognac producer, Hennessy (LVMH) is poised to sell one of its small brands, Hine, to Caribbean-based holding company, Trinidad and Tobago CL Financial Ltd, the local French press has reported.

Reports indicate that Hine currently sells 80,000 cases annually (720,000 litres) compared to 240,000 cases several years ago.

According to an industry survey, the Hennessy group had global annual sales of 3.3m cases in 2002.

CL Financial has a number of interests in the spirits sector, including its Angostura subsidiary, which specialises in aromatic bitters and rums.

The holding company has made a number of investments in Europe recently, taking a stake in French drinks group, Belvédère and acquiring Scotch whisky producer, Burn Stewart Distillers.