EU delays sale of Absolut
The Local · 27 Jun 2008, 17:24
Published: 27 Jun 2008 17:24 GMT+02:00
Pernod Ricard has proposed making concessions to the European Commission to avoid competition problems in its acquisition of Sweden's Vin & Sprit, the maker of Absolut Vodka, the Commission said, without giving further details.
European competition departments have prolonged their study of the file and will make a decision on 17 July about whether to allow the deal to proceed, perhaps with some concessions incorporated, or whether to launch a more detailed investigation.
The study was originally due to be completed on July 3rd.
Pernod had announced the acquisition of Vin & Sprit (V&S) at the end of March for a total of €5.626 billion, following an auction by the Swedish government.
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