Top drinks firms eyeing Absolut
http://news.bbc.co.uk/go/rss/-/1/hi/business/6436595.stm Version 0 of 1. Absolut vodka's maker is being eyed by three of the world's top spirit makers, the Swedish government says. France's Pernod Ricard, US group Fortune and Bermuda-based Bacardi have expressed an interest in state-owned Vin & Sprit (V&S), a spokesman said. In state hands for 90 years, V&S is reportedly worth $5.7bn (£2.97bn). The group is one of several firms being sold off as part of a huge Swedish privatisation push which the government hopes will raise $21.22bn. The money will be put towards reducing the country's debts over the next three years. Sales drive Sweden's government is currently awaiting a parliamentary mandate to sell the drinks firm. It already has permission to sell off state-owned shares in Nordea Bank, market operator OMX and telecoms firm TeliaSonera. "Pernod and Bacardi have come in with letters expressing their interest in Vin & Sprit, and in addition Fortune Brands have orally expressed interest," said Mia Widell, press secretary for Financial Markets Minister Mats Odell. According to reports a number of private equity groups are also considering whether to table a bid. With a turnover of about 1bn euros ($1.3bn; £680m), V&S employs 2,500 people in 10 countries and is the world's third-biggest-selling vodka brand. |