Absolut Vodka sale reaches completion |
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| Written by Jamie Coggans | |
| Thursday, 24 July 2008 | |
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The announcement follows the European Commission's decision on July 17 to authorise Pernod Ricard's 100% share buyout of the Swedish firm. Valued at €5.26 billion, including debt, Pernod Ricard beat off strong competition from the likes of Fortune Brands to complete the sale. An €85 million dividend will be paid to the Swedish government by V&S. Pierre Pringuet, Pernod Ricard managing director, said in May he envisaged "colossal" growth for the Absolut Vodka brand in the US.
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Pernod Ricard's purchase of Vin & Sprit (V&S), the company that sells Absolut Vodka, has been completed.
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