UK: Seagram executive hopes for sale decision by mid-November
The president and CEO of Seagram's spirits and wine group was in London this week to speak to Seagram's UK staff, and said he hoped to have news of a decision on the sale of its drinks arm by mid-November.Steven J Kalagher, was there to "motivate the staff about the business and to keep the business moving forward," according to a Seagram source.However he was also there to discuss the sale process and many of the press reports about the disposal of the drinks arm "some of which have been more true than others".According to the Seagram source, staff were told that, although it was early, on "Allied Domecq and Diageo/Pernod Ricard were among the frontrunners for the business", however the UK and Anglo/French concerns were not the only companies mentioned.Kalagher also said that Charles Bronfman, the Seagram family member, was unlikely to be bidding for the business, backing up press reports last week that said Bronfman had concluded that it doesn't make sense to pursue a bid for the business, noting the good fit the business has with the rival bidders.
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