FRANCE: Vranken Pommery to raise capital for acquisition

By | 2 December 2009

Champagne house Vranken Pommery Monopole has announced the launch of a EUR35.9m (US$54m) rights issue to fund the acquisition of Camarguaise de Participations.

"The main objective of this capital increase is to finance the acquisition carried out on 1 December 2009 of Camarguaise de Participations, virtually all of whose assets are made up of 95.6% shares of Domaines Listel," Vranken said today (2 December).

The Champagne house upped its stake in the French wine group Listel from 39% to 55% in April 2007, while also also securing an option to acquire up to 77% of Listel's capital.

"It's clearly another step forward in our diversification into other areas of the drinks market," Vranken's general manager, Paul Bamberger, told just-drinks at the time.

Listel produces its brand wines and a range of AOCs in southern France, where it is has vineyards covering around 2,000 hectares.

Vranken has managed Listel's brands and sales since the end of 2005.

Sectors: Wine

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FRANCE: Vranken Pommery to raise capital for acquisition

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