FRANCE/USA: Jean-Marie Messier and Edgar Bronfman, Jr. Comment on Sale of Seagram Spirits and Wine Business
In response to today's announcement that Diageo and Pernod Ricard will acquire Seagram's spirits and wine business for $8.15 billion, the following comments were issued today: Jean-Marie Messier, Chairman and Chief Executive Officer of Vivendi Universal, said: "I am very pleased with the agreement we have executed with Diageo and Pernod Ricard. This agreement recognizes the full value of Seagram's spirits and wine business and creates after tax proceeds that exceed Seagram's net debt. This transaction strengthens our balance sheet and helps to create real and immediate value for Vivendi Universal shareholders. We have a great management team in place and strong media and communications businesses that are strategically well positioned. With this sale, we will now focus our energy on achieving the aggressive growth targets that we have set for ourselves."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 14 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- A tobacco analogy soft drinks will want to embrace
- Pernod's Portman Group penalty - a coincidence?
- just The Preview - SABMiller's Q1
- Cleaning China's seedier side brings Remy balance
- PepsiCo to consider more re-franchising - CEO
- Diageo's Captain Morgan Facebook ad banned
- Diageo faces public consultation over W&M sale
- William Grant silent on Drambuie bid talk
- Bacardi to fight US football team legal action
- Remy posts Q1 sales drop as Edrington loss bites