The Polish unit of Remy Cointreau has pulled out of the race for a majority stake in Polmos Bialystok. Only three of the expected four offers for the 51% stake in the vodka company have been lodged, the Polish treasury ministry said today (19 April).

Final offers for the share of Bialystok came from US distributor Central European Distribution Company, Sobieski Dystrybucja, owned by French company Belvedere, and Polish rival spirits company Polmos Lublin.

As reported yesterday, the state intends to float a minority stake in Bialystok on the Warsaw Stock Exchange soon. The company is Poland's second largest vodka maker.

In a statement released yesterday, Polmos Lublin said: ""The offer represents a part of Polmos Lublin's strategy...aimed at the acquisition of other companies or brands and their further development in those market segments which are strategic for the company."