Seagram boosts stake in venture
Article Abstract:
Seagram Co. Ltd. will increase its stake in its 16-year old joint venture with the struggling South Korean conglomerate Doosan Group, from 50% to 77.8% for $90 million in cash and loans. The move to boost its liquor holdings exploits the effects of the battered Asian market in Doosan whose reins will be assumed by Seagram. The firm is not alone on exploiting regional partners and rivals as many US and European firms are also increasing their hold in Asia by giving in to new market-opening measures. Meanwhile, Seagram also plans to divest its Tropicana Products Inc. juice unit under what could possible be the biggest initial public offering in US history.
Comment:
Will increase its stake in a joint venture with struggling South Korean firm Doosan Group, from 50% to 77.8%
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Seagram revamps spirits business
Article Abstract:
Seagram Company Ltd. looks to implement a revamping initiative for its primary business on wine and liquor products. Seagram's liquor and wine operation, which contributes close to 50% of the firm's revenues every year, will have its management structure reorganized and its marketing and sales staff for vital product brands energized. The planned revamping of Seagram's wine and liquor operations will also result to the concentration of operations on key markets, such as South Korea, United Kingdom, Germany, United States, Spain and Japan, and key product brands, such as Captain Morgan Original Spiced rum, Absolut Vodka, Crown Royal and Chivas Regal.
Comment:
Looks to implement a revamping initiative for its primary business on wine and liquor products
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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