The Lithuanian State Assets Fund has announced that it has approved the sale of the spirits producer, Vilnius Degtine, to the Polish drinks company, Belvedere Dystrybucja, part of the French company, Belvedere.
The sale is now subject to government approval and must also be ratified by the company’s privatisation group next week.
The government set a minimum LL5m price-tag for the privatisation but Belvedere is reported to have bid in excess of LL20m (€5.8m) for Degtine.
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