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Swedes confirm V&S will be sold whole
The battle for V&S, owner of Absolut vodka, has begun. Earlier on this week, the Swedish financial markets minister, Mats Odell, announced that the privatisation of the company would take place next year. The company, which is valued at US$5-7 billion, will be sold via a trade sale and will not be broken up.
Odell was quoted as saying: “…it’s not the specific time that is the most important but that we get the best possible price.” The Swedish government has already contacted interested parties, which are likely to include Fortune Brands, Diageo, Pernod Ricard and Bacardi.
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Fionnuala Synnott, 12/12/07
