SOUTH KOREA: Jinro seeking foreign investment
Jinro ltd, the South Korean spirits producer is looking to help pay off maturing debt by raising one trillion won (US$800m) from foreign investors.
The company has said it has had talks with "more than two foreign investors". However the group refused to confirm who the potential investors were and in what form the investment would take place, saying only that a deal would be struck in the next couple of months.
The company has debts of 1.7 trillion won. It had been granted a five-year freeze on payment of debt principle, and should start repaying the loans from this year.
In 2000 it sold it profitable whisky division to Allied Domecq for 140 billion won.
Companies: Allied Domecq
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
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....
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