On the Street: Pernod Ricard Sells Unit
February 15/Paris/Business Wire -- Pernod Ricard has signed an agreement to sell a number of Swedish and Danish assets to Altia for a cash consideration of SEK 835 million (82 million euros).
The transaction includes a number of local wine and spirits brands including in particular Explorer vodka, Lord Calvert whisky, 1 Enkelt bitter, Blossa glögg and Chill Out wines; a bottling facility located in Svendborg, Denmark; and two logistic centers located in Odense, Denmark, and arsta, Sweden.
Related long-term production, bottling and logistic services agreements between Pernod Ricard Sweden, Pernod Ricard Denmark and Altia have also been concluded.
The transaction is subject to customary regulatory approvals, including that of the Swedish competition authorities.
This transaction brings Pernod Ricard closer to the achievement of its 1billion euro disposal plan (approximately 0.8 billion euros of which has been achieved to date).
From the March 1, 2010, Prepared Foods E-dition