Round-Up - Russian Standard Pursues CEDC
Russian Standard is trying to convince Central European Distribution Corp to hand over a bigger stake of its business, in return for debt funding. Here, we bring you the latest developments in one place.
Central European Distribution Corp has said that Russian Standard's proposal is one of several "options" it is exploring.
Russian Standard has offered Central European Distribution Corp emergency debt funding and distribution rights on its namesake vodka in return for handing over a further 23% stake in its business.
The MD of William Grant & Sons' First Drinks division has said he is not concerned about the financial travails facing Central European Distribution Corp, ahead of a distribution tie-up between the two in the UK.
Central European Distribution Corp has renewed its exclusive distribution deal with Beam Inc in Poland, as the group continues to consider a proposal from Russian Standard.
Ratings agency Moody's is considering a second downgrade for Central European Distribution Corp in as many months, amid concern that the drinks distributor could default on debt.
Russian Standard's owner has said that negotiations over strategic partnership with Central European Distribution Corp have reached an advanced stage, according to a report.
Central European Distribution Corp is playing coy with the proposal of a strategic alliance from Russian Standard Vodka, but analysts believe that the drinks distributor needs a deal.
Central European Distribution Corporation has confirmed receipt of a proposal from Russian Standard to up its stake in the US-based company to almost 30%, and form a “strategic alliance”.
Russian Standard Vodka has acquired just under 10% of Central European Distribution Corporation.
Central European Distribution Corporation has revised its full-year forecasts as nine-month profits turned to losses after its third quarter.
Central European Distribution Corp's decision to erect a poison pill takeover defence follows an investment in the company by the ex-CEO of Whitehall Group.
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