“CL and Angostura are in the final stages of raising finance to enable an offer to be made and the Board of Burn Stewart expect outstanding matters to reach a conclusion within the next few weeks,” the company said in a statement.
UK: Burn Stewart/Angostura talks to conclude within weeks
UK-based spirits group, Burn Stewart Distillers, has said that it expects the takeover negotiations with CL Financial Ltd, the company which owns the Angostura bitters brand, to be completed within the next few weeks. Burn Stewart confirmed that any takeover offer would be made through CL's non-wholly owned subsidiary, Angostura Ltd.
September 13, 2002