FRANCE: Pernod sells BWG for €220m
Pernod Ricard has announced that it has has sold its retail subsidiary BWG Group Limited (BWG), to Electra Partners Europe (Electra). Under Electra's ownership the existing management of BWG, led by Leo Crawford, will continue with the business. Pernod Ricard will receive €220m from Electra, of which €15 million is in the form of a loan note. Adjusting BWG's profits onto a normalised basis, Pernod Ricard estimates that in 2001 BWG would have had an EBIT of approximately €31m.
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