FRANCE: Rémy controlling shareholder quashes sale talk - report
Last week, a French brokerage linked Brown-Forman with a bid for Rémy, speculation that sent Rémy's share price soaring. Brown-Forman declined to comment on the reports but told just-drinks that it was "on alert" for acquisitions.
However, Francois Heriard Dubreuil, chairman of ORPAR, told Reuters yesterday that there had been no talks between the two companies. "It's rumours, which a broker sent. Everyone has intentions in our industry to talk about ventures and so on," Dubreuil said. "(But) to play tango you need to be two."
Yesterday Rémy confirmed its forecast of a double-digit leap in operating profit after reporting rising revenues for fiscal 2006.
The group said consolidated sales - after stripping out contributions from assets it sold in the last 12 months such as its Bols spirits business - rose 6.4% to EUR802m (US$991m).
The rum market may be dominated by white rum - and by one brand in particular - but Larry Watson, managing director, distribution division, at Jamaican rum producer, J Wray & Nephew, believes there is...
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Remy Cointreau has signed a five-year credit facility for around €500m....
Brown-Forman has signed its first Southern Hemisphere wine....
Remy Cointreau has gone to holders of one of its bonds to gain permission to complete the sale of its stake in Bols....
Brown-Forman has announced the next step in its succession plan....
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