POLAND: CEDC chases rest of Polmos Bialystok
Central European Distribution Corporation is on the hunt for the remaining shares in Polish vodka company Polmos Bialystok that it does not already own.
The US-based company confirmed yesterday (16 January) that its wholly-owned subsidiary, Carey Agri, will launch a new tender offer for around 2.86m shares in Bialystok, which will amount to around PLN294m (US$98m) at PLN103 per share.
"This $98m will be financed through a credit facility which has been arranged with an international bank," CEDC noted.
The tender is set to close by the middle of next month, with CEDC hoping to own up to 93% of Bialystok's shares. The remaining 7% are held by employees with a lock up until May, and will not be eligible for purchase in the tender offer.
CEDC acquired a 61% stake in Bialystok in July 2005 for PLN1.06bn. Late last year, however, the corporation managed to acquire just under 340,000 shares in the vodka company, having planned to acquire 3.2m of the remaining 4m.
CEDC had hoped to buy the shares, and then de-list Bialystok from the Warsaw Stock Exchange.
There has rarely been dull moment in recent years for anyone concerned with Stolichnaya, with a long-running rights dispute over the brand name, a switch to bottling the brand outside Russia and the t...
With interest surrounding the likely sale of Swedish spirits producer V&S Group growing by the day, there could be no better time to look at the company's flagship vodka brand Absolut and the opportun...
The European Agriculture Commissioner Mariann Fischer Boel has unveiled the detailed plans for reform of the European wine sector, following a year of consultation. As expected, there has been some wa...
Drinks Americas has announced that it is to add a range of flavoured variants to the Trump Super Premium Vodka brand next month....
Consumers last year continued to flock to more expensive premium and flavoured products, according to the recently published Adams Liquor Handbook 2007....
Central European Distribution Corporation has raised its full year 2007 fully diluted earnings per share guidance. The spirits company said it had raised its expectations from US$1.50-$1.66 to US$1.56...
Carlsberg's interest in Vin & Sprit should be seen as a way for the company to diversify out of beer and improve its "critical mass in drinks distribution," according to a research note by Dresdner Kl...
Carlsberg has shown an interest in Vin & Sprit, the makers of Absolut vodka, after the Swedish government sanctioned the sale of the wine and spirits company....
- Diageo's Q4/FY 2016 results - Preview
- Diageo's FY performance by region - Focus
- Wine consumption and its health effects
- Can craft breweries compete in lager arena?
- Time to take stock of Constellation's Corona
- Diageo sets sights on alcohol-alternative trends
- SABMiller puts brakes on A-B InBev integration
- Diageo names new TR head as Doug Bagley exits
- Brexit "not a big deal" for Scotch - Diageo CEO
- AB InBev seeks single buyer for European beers
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends