Remy Cointreau has sold 602,430 of its own shares to a unit of Barclays Plc at an average price of €23.24 a share, raising €11.31m. Remy said the move gives it greater financial flexibility.

The French wine and spirits producer said the deal includes a clause allowing Remy to repurchase the shares for the same price from Barclays Capital Securities Ltd.

The deal also included the purchase by Remy Cointreau of 224,497 call options from Barclays.