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.
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