News

RUSSIA/US: Russian Standard proposes “strategic alliance” with Central European Distribution Corporation

Most popular

Should Pernod dump wine, bunk up with Brown-Forman

Why Brown-Forman will be one of spirits' winners

Retaliatory tariffs "wild card" for Brown-Forman

Diageo in North America - Focus

MORE

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”.

//i2.aroq.com/1/russianstandard-cedc.jpg

CEDC, which is based in New Jersey but operates almost totally in Central and Eastern Europe, announced earlier today (8 December) that Russian Standard is looking to buy a 19.9% stake, in exchange for unspecified assets in Russian Standard's Roust Inc spirit import unit.

The move follows Russian Standard's purchase of 9.9% of CEDC's shares late last month.

CEDC confirmed today that it has held “preliminary discussions” with Russian Standard, following the setting up of a confidentiality agreement between the two in early October.

“No agreement was reached as to any matters referred to in the letter from Russian Standard,” CEDC said.  “No due diligence has been conducted with respect to the assets proposed to be contributed to CEDC in exchange for the suggested equity interest.”

CEDC concluded that it is in the process of “evaluating the proposal.” A spokesperson for Russian Standard declined to comment on the developments when contacted by just-drinks this afternoon.

For CEDC's announcement, click here.


Related Content

Asahi asset tidy continues with Tsingtao Brewery Co stake poised for offload

Asahi asset tidy continues with Tsingtao Brewery Co stake poised for offload...

Coca-Cola HBC back on track with H1 profits jump

Coca-Cola HBC back on track with H1 profits jump...

Comment - Tariko Looks to Raise the Standard with CEDC Takeover

Comment - Tariko Looks to Raise the Standard with CEDC Takeover...

Viña San Pedro pulls together UK distribution with Enotria & Coe

Viña San Pedro pulls together UK distribution with Enotria & Coe...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?