GrandMet/Guinness merger: LVMH spoils the party
Article Abstract:
LVMH is seeking to acquire a stake of 34% in Moet Hennessy held by Guinness, arguing that the planned merger between Guinness and Grand Metropolitan gives LVMH the right to purchase this stake. The stake in important as a contributor to Guinness' profit and Moet holds exclusive distribution rights to Guinness major liquor brand in the Far East and US. LVMH argues that GrandMet is acquiring Guinness, so this ownership change allows LVMH the right to the Moet stake. Guinness is officially acquiring GrandMet, but if LVMH wins its legal battle, the merger could be abandoned.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Allied Domecq
Article Abstract:
Allied Domecq has sold its half share of Carlsberg-Tetley, a brewer, to Bass, with a 309 million pounds sterling loss. The company's trading profit has dropped by 11% at 729 million pounds sterling prior to restructuring charges, for 1995 to 1996. Sales of Victoria Wine, a retailer, rose by 0.5% with a drop in profit of 1 million pounds to 17 million pounds in this period. The company's profit is forecast at 610 million pounds sterling for 1996 to 1997 by NatWest.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
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