14 May 2008 – French Pernod Ricard SA, co-leader in the global wine and spirits industry, told the media the closing of its acquisition of Swedish Vin & Sprit (V&S) shouldn't be delayed by rival Fortune Brands Inc's court action against V&S.
Fortune Brands yesterday filed an injunction against former joint-venture partner V&S over the Swedish company’s 10% stake in Beam Global Spirits & Wine. Fortune, which owns the remaining 90% shares in Beam Global, wishes to purchase V&S’s stake but the two companies have so far been unable to agree on a price.
“The stake in Beam is not part of our transaction”, a Pernod Ricard spokeswoman was quoted as saying.