Bacardi targets Sweden's Absolut
AFP - [email protected]
Published: 5 Mar, 2007 CET.
Updated: Mon 5 Mar 2007 09:08 CET
Bermuda-based drinks group Bacardi, maker of the world's leading rum brand, has written to the the Swedish government to express its interest in buying Swedish vodka brand Absolut, the Financial Times reported on Monday.
Sweden's centre-right government presented a bill to parliament on Friday to sell state holdings in six companies including the owner of the Absolut Vodka brand, Vin and Sprit.
"V and S and Absolut especially would be a terrific fit for Bacardi," Bacardi chief executive Andreas Gembler told the Financial Times.
"Of the few global brands that are really left to acquire, V and S - and in particular Absolut - obviously represents a jewel for a company like ours."
The FT said that analysts had valued V and S at about 4.3 billion euros (5.7 billion dollars).
The Swedish government has not said when it will sell the stake in V and S and the other state-owned companies, or whether it would sell all or just part of its holdings.
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Sweden's centre-right government presented a bill to parliament on Friday to sell state holdings in six companies including the owner of the Absolut Vodka brand, Vin and Sprit.
"V and S and Absolut especially would be a terrific fit for Bacardi," Bacardi chief executive Andreas Gembler told the Financial Times.
"Of the few global brands that are really left to acquire, V and S - and in particular Absolut - obviously represents a jewel for a company like ours."
The FT said that analysts had valued V and S at about 4.3 billion euros (5.7 billion dollars).
The Swedish government has not said when it will sell the stake in V and S and the other state-owned companies, or whether it would sell all or just part of its holdings.
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