UK: WestLB chief says Kyndal not for sale
WestLB funded the Kyndal management buyout from Jim Beam Brands in 2001, and Kyndal, whose brands include Whyte & Mackay whisky and Vladivar vodka, is one of several WestLB investments made by Saunders' team which have been under review following problems arising from another one of her deals.
WestLB has said it was in no hurry to decide what it would be doing with its principal investments, particularly in light of the fact that recent external valuations were higher than those on its own books.
Ms Saunders' letter to Kyndal chairman, Vivian Imerman, said simply that Kyndal was not for sale.
Several bidders are in the running for Whyte & Mackay's Invergordon Distillers business and are conducting due diligence on the site, just-drinks understands....
Whyte and Mackay has said it is open to offers for its Invergordon distillery as it continues to restructure its business....
UK spirits group Whyte & Mackay is set to invest GBP100m (US$172.5m) behind a global relaunch of its key brands....
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