Pernod Ricard in talks over joint bid for UK firm

13th February 2005, Comments 0 comments

LONDON, Feb 13 (AFP) - French drinks and spirits group Pernod Ricard has held talks with US consumer goods company Fortune Brands over a possible joint bid for British drinks giant Allied Domecq, a newspaper reported on Sunday.

LONDON, Feb 13 (AFP) - French drinks and spirits group Pernod Ricard has held talks with US consumer goods company Fortune Brands over a possible joint bid for British drinks giant Allied Domecq, a newspaper reported on Sunday.

Allied Domecq - worth an estimated GBP 5.8 billion (EUR 10.8 billion) - was reported to be a takeover target for Pernod in early February.

However, the Mail on Sunday said that Pernod was understood to be too small to do a deal on its own for Allied Domecq, makers of Beefeater gin, Perrier Jouet champagne and Malibu rum.

Under the plans, Fortune - which produces Jim Beam bourbon - would take over some Allied brands to sidestep competition issues arising from overlapping products, such as Pernod's Martell and Allied's Courvoiser cognac labels.

Spokesmen for Pernod and Fortune declined to comment on the speculation, the paper said.

© AFP

Subject: French News

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