SWEDEN: Vin & Sprit dismisses false figures claims
Vin & Sprit has shrugged off reports that the Swedish state exaggerated its prospective results in a prospectus used to promote the sale of the company.
The prospectus, which was distributed to up to 30 interested parties to provide indicative bids for the company, was sent out a week before the scheduled yearly report. When V&S presented its full-year results late last month, the figures were lower than the ones firecast in the prospectus, according to local reports..
Speaking to just-drinks today (12 February), however, a spokesperson for V&S said: "I don't know what they [the false figure allegations] refer to. We issued the prospectus last November. They have the full-year figures dating back and the budget figure for 2007. Bidders have all the details now."
Groups interested in Vin & Sprit include Pernod Ricard, Fortune Brands, Bacardi and private equity firms Investor and EQT, with Diageo out of the running following its Ketel One vodka deal, announced last week.
In acquiring 50%-ownership and global distribution rights to premium vodka brand Ketel One Diageo confirmed its withdrawal from the auction for Absolut. Moreover, writes Ben Cooper, the move for Ketel...
Stolichnaya vodka is not for sale, but brand owner SPI Group is in negotiations to form new distribution agreements in key markets, minority shareholder Andrey Skurikhin has told just-drinks....
Thirty five of the world's 100 largest-selling spirits brands by volume are Asian, according to new research....
A bid by US firm Frank Pesce International Group for the global rights to Stolichnaya vodka has been rejected by brand owner SPI, just-drinks understands....
Cognac and Champagne producer Remy Cointreau has returned to profit in its recent full-year, but has warned the next 12 months would be a "transition period" for the group....
Scotch whisky distillery Tullibardine has confirmed that it has hired Swiss investment bank UBS to assess potential takeover offers....
US-based buyers would likely be favourites in an auction for Stolichnaya, one senior analyst has told just-drinks, but any potential sale remains shrouded in secrecy....
North West based importer, Myliko Wines, has been appointed the sole UK agent for Canei....
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