Sweden says vodka group sold to Pernod for 5.6 billion euros

0 Comments | AFP, March, 2008

STOCKHOLM (AFP) — The Swedish government said on Monday that it had sold the Vin & Sprit group which owns Absolut vodka to the giant drinks group Pernod Ricard of France for 5.626 billion euros (8.88 billion dollars).

Swedish Financial Markets Minister Mats Odell said in a statement that Pernod Ricard had made the best offer of four on the table for the state-owned drinks group.

Absolut vodka would be Pernod Ricard's number one brand.

Pernod Ricard, a global player after its acquisition last year of British group Allied Domecq, intended to keep V&S as a Swedish entity, based in Sweden, with continued responsibility for production and marketing in accordance with its established practice of decentralised management of key brands.

The total value of...