UK: Pernod/Diageo deal to buy Seagram drinks not yet complete
The sale of Seagram's drinks business to Diageo and Pernod Ricard is not yet complete a spokesman for Pernod Ricard said today. "The deal is not closed. It could be signed very soon, and as soon as it will be, we will announce it," he told Dow Jones today. But "as long as it's not signed, there is no deal," he added.
According to earlier sources it had been believed that the announcement of the deal, expected early today, had been delayed due to French regulations.
But the Pernod spokesman refuted that claim, saying this was "false information". Paris stock market authorities have since confirmed there are no rules that would prevent a company making a deal public once it was closed.
Despite any last minute glitches in closing the deal the Diageo/Pernod consortium remains the strong favourites to clinch the business. Their bid is believed to be worth $8.15 billion with Diageo paying 61% of the cost and Pernod the remaining 39%.
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Pernod Ricard is looking to acquire Allied Domecq....
Allied Domecq and Pernod Ricard have both been downgraded....
Diageo has completed another share buyback transaction....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
Diageo is poised to cut back its presence in Germany, according to local reports....
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