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EUROPE: Remy Cointreau sells shares in cava brand Cigravi

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French drinks company Rémy Cointreau has sold its stake in the cava brand Cigravi to the Giro-Ribot family.The sale means the Giro-Ribot family now controls 80% of Cigravi while 20% is held by small investors. The initial plans by the family to sell nearly 45% have apparently been put on hold.Rémy Cointreau had a 56% share stake in Cigravi after it subscribed to a Pta500m capital increase in the company in 1990. Earlier this year it sold cava producer Mas Tinell for Pta675m to Manuel Valderrama.


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