BELGIUM: Pernod V&S purchase suffers EC decision delay
A spokesperson for the Commission, which is considering the move and its competitive repercussions, confirmed to just-drinks today (30 June) that the deadline for a ruling has been put back by ten working days to 17 July. A decision will be made "no later than" the new due date, the spokesperson said.
"This is perfectly standard procedure when it comes to dealing with an acquirer making certain commitments to avoid competitive issues," the spokesperson said, while declining to elaborate on what those commitments are.
The ruling will either approve the transaction or order a more in-depth investigation into the situation.
Pernod won the race to acquire Vin & Sprit, which owns the Absolut vodka brand, from the Swedish government in March of this year, with a bid worth US$8.88bn.
For our final interview of 2008, we're putting aside sales forecasts and market performances for a moment in favour of a personal reflection on one of the drinks world's most influential figures, Robe...
Not surprisingly perhaps it is the effects of the global economic downturn that have dominated the wine pages of just-drinks over the past year. Richard Woodard reviews a difficult year for the intern...
Pernod Ricard's unexpected move for Absolut in March set the tone for a year in which Diageo eschewed any significant acquisitions in favour of joint deals with existing brand owners. Olly Wehring rev...
Christmas is naturally a time when alcohol retailers, pubs and restaurants do well but it is also a time of aggressive price promotion among retailers. Chris Losh bemoans the damage being done to the ...
The top ten stories published on just-drinks this week....
Corby Distilleries, which owns the licence to Pernod Ricard brands in Canada, has appointed Spinnaker Capital Markets as its independent investor relations and capital markets adviser....
Pernod Ricard has signed a deal with Norway's Arcus Gruppen to sell several drinks brands acquired as part of its takeover of Vin & Sprit....
Tax rises, slowing sales growth and vicious discounting are threatening to cause widespread job losses across the UK wine sector early next year, industry sources have told just-drinks....
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - Beer - Does 'Craft' Work?
- Solving the diet drinks dilemma in the US
- SABMiller, Meantime Brewing say goodbye to 'craft'
- Comment - How to Target Cognac's Mok Generation?
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- Emperador overhauls Whyte & Mackay labels
- SPI Group US, Canada sales chief departs
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Beam Suntory Inc. - Strategy and SWOT Report