FRANCE: Remy Cointreau sells capital
Remy Cointreau has sold 5.7% of its capital. The French Champagne, Cognac and liqueur maker said today that it and controlling shareholder Orphar had unwound equity swaps resulting in the sale. The 2.56m shares were sold to institutional investors on the international markets.
In a statement, Remy Cointreau said: "This additional disposal is part of the debt reduction programme set up by the group."
Credit-Agricole Indosuez-Credit Lyonnais and Societe Generale were sellers and joint bookrunners for the transaction.
The French company is due to release its next earnings statement, covering the year to 31 March, on 10 June.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Remy Cointreau is looking to restructure its Champagne business, according to local reports....
Remy Cointreau has had its investor rating raised....
Remy Cointreau has posted a drop in full year net profit in spite of increasing revenues....
Remy Cointreau has signed a five-year credit facility for around €500m....
Remy Cointreau has gone to holders of one of its bonds to gain permission to complete the sale of its stake in Bols....
Remy Cointreau has posted a slight rise in revenue growth for fiscal year 2005....
The Polish unit of Remy Cointreau has pulled out of the race for a majority stake in Polmos Bialystok....
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