RUSSIA: SPI wins control of local distiller - report

By | 28 June 2006

SPI Group has reportedly gained majority control of Permalco, the largest alcoholic beverage producer in Russia's Perm Region.

The distiller has bought a 51% stake in Permalco, based in the north-east of Russia, for RUB308.7m (US$11.4m), according to a Prime-TASS News report today (27 June).

The deal takes SPI's stake in Permalco to 92% following its purchase of a holding worth 41% last month.

SPI, which owns the rights to Stolichnaya vodka in many international markets, also owns Kaliningrad distiller SPI-RVVK, Tambov-based Talvis and Latvia's Latvijas Balzams.

Earlier this month, SPI suffered a major setback in its long-running dispute with the Russian government over the Stolichnaya trademark when a Dutch court gave Russian state company Soyuzplodoimport the rights to the brand in the Benelux countries. SPI, however, has vowed to fight the ruling.

Sectors: Spirits

Companies: Stolichnaya

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