Top spirit makers want Absolut control over best-selling vodka
13 Mar 2007
The maker of world's third largest selling vodka brand Absolut, the Swedish government owned Vin & Sprit (V&S), is being eyed by three of the world's top spirit makers.
According
to a Swedish government spokesman, France's Pernod Ricard,
US group Fortune and Bermuda-based Bacardi have expressed
an interest in V&S, which has been in the hands
of the Swedish government for 90 years.
The spokesman said that Pernod and Bacardi had expressed their interest in the spirit maker in letters sent to the government while Fortune Brands has orally had expressed its interest orally.
With
a turnover of about €1 billion ($1.3bn / Rs7641.4
crore), and 2,500 people in 10 countries, the firm is
said to be worth $5.7 billion (approximately Rs25,051.5
crore). It is among the several firms being sold off
as part of the government's privatisation process to
raise $21.22 billion, to reduce the country's debts,
over the next three years.
Other state-owned that could see a dilution of the government's
stake are Nordea Bank, market operator OMX and telecoms
firm TeliaSonera.