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ITALY: Campari increases stake in Skyy

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Davide Campari-Milano SpA has increased its stake in the vodka producer Skyy Spirits. The Italian drinks company now owns 89% of Skyy after acquiring shares from Skyy founder Maurice Kanbar.

Campari exercised a US$156.6m call option to make the acquisition and has another call option to acquire the remaining 11% stake from Skyy's management team in 2007.

Campari took a controlling stake in Skyy Spirits at the end of 2001 for US$207.5m in cash. It had held an 8.9% stake since 1998.


Sectors: Spirits

Companies: SKYY Vodka, Campari

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