FRANCE: Lanson confirms stake sale
By just-drinks.com editorial team | 12 July 2005
Lanson International has today (July 12) confirmed to just-drinks that its 44% stakeholder Caisse d'Epargne Group is looking to sell its shareholding.
Caisse d'Epargne only took its stake in the Champagne business a year ago as part of a deal to refinance the debt-troubled Lanson.
One year after this agreement, Lanson International, which has adopted a new corporate governance structure with a Board of Directors and a Supervisory Board, on which the Caisse d'Epargne group is represented, said it has now launched a new business plan under the guidance of the board, allowing the company to relaunch its commercial plans.
In a statement Lanson said: "The Caisse d'Epargne Group has engaged itself to pursue the refinancing of the debts relative to the financing of the Champagne stocks, and in its role as banker, to accompany the development of Lanson International. Relating to its investment, if opportunities for a sale were to present themselves, and on the condition that they were built into a reliable long-term development plan for the company, the Caisse d'Epargne Group, in agreement with the majority share-holders, would be prepared to examine such opportunities."
Despite rumours to the contrary, only the Caisse d'Epargne stake is up for sale and not the 56% controlled by the Mora family, a Lanson spokeswoman told just-drinks today.
She also dismissed the €700m price tag some French media reports had reported Lanson chairman Francois-Xavier Mora placing on the business, saying the price had come from no-one within Lanson.