UK: Three bidders line up for Malibu
So far, it is believed that Fortune Brands, Allied Domecq and Pernod Ricard have submitted offers for the brand which Diageo must sell in the next six months in order to comply with US regulatory requirements following its US$8.15 billion joint acquisition of Seagram with Pernod Ricard.
Diageo must dispose of Malibu before it can integrate the former Seagram rum brand, Captain Morgan, into its portfolio.
Diageo is thought to be seeking between US$900m and $1 billion for the brand though some analysts believe this is a little optimistic.
It is thought possible that Fortune Brands, owners of Jim Beam Bourbon, or Pernod Ricard may offer brands to Diageo as part of any deal. Other companies thought to be sizing up Malibu include Brown-Forman, Constellation Brands and Remy-Cointreau.
Meanwhile, the sale of Captain Morgan is being contested by the Puerto Rican rum group, Destilleria Seralles. The company maintains that it has first refusal on the brand and is trying to acquire it on behalf of Allied Domecq. Insiders have suggested that Allied will withdraw from that particular battle if their direct bid for Malibu is favourably received by Diageo.
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Pernod Ricard is looking to acquire Allied Domecq....
Allied Domecq and Pernod Ricard have both been downgraded....
Diageo has completed another share buyback transaction....
Fortune Brands has started making moves to acquire in the European drinks industry, according to press reports....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
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