Pernod Ricard (PDRDY.PK) announced that it has signed an agreement to sell a number of Swedish and Danish assets to Altia for a cash consideration of SEK 835 million, or € 82 million at current exchange rate.
The transaction includes a number of local wine and spirits brands including in particular Explorer vodka, Lord Calvert whisky, Enkelt bitter, Blossa glögg and Chill Out wines, A bottling facility located in Svendborg, Denmark, two logistic centres located in Odense, Denmark and Årsta, Sweden.
Related long-term production, bottling and logistic services agreements between Pernod Ricard Sweden, Pernod Ricard Denmark and Altia have also been concluded.
The transaction is subject to customary regulatory approvals, including that of the Swedish competition authorities.
This transaction brings Pernod Ricard closer to the achievement of its €1 billion disposal plan or about €0.8 billion achieved to date.
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