INDIA: UB denies interest in Taittinger

By just-drinks.com editorial team | 11 May 2006

India's UB Group has reportedly denied it has tabled a bid for Champagne producer Taittinger.

Reports in India today (11 May) said that UB had dismissed claims from unnamed sources that it was interested in Taittinger, the world's sixth-largest Champagne producer.

UB officials could not be reached for comment when contacted by just-drinks. A spokesperson for Taittinger's owner, US real estate group Starwood Capital, could not disclose the identity of the bidders, adding, however, that the second round of bidding is likely to close by the end of the month.

Around half a dozen suitors are understood to have been shortlisted in the race for Taittinger. The sale also includes wine assets in California and the Loire region of France but Starwood is said to be looking for a minimum of EUR500m (US$636m) for the Champagne assets.

Starwood bought Taittinger last July when it paid EUR2.9bn for its parent Groupe Taittinger and an associated business, Société du Louvre.

Sectors: Spirits, Wine

Companies: UB Group