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N.Y. Court Rejects Fortune Claim on V&S: Report

Source: Reuters
20/05/2008

Stockholm, May 20 - A New York court has rejected a claim by spirits firm Fortune Brands that media had said could delay Pernod Ricard's acquisition of Sweden's Vin & Sprit, daily Svenska Dagbladet said on Tuesday.

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Fortune has filed lawsuits in Stockholm and New York for an injunction to stop the Absolut Vodka maker from going ahead with plans to transfer V&S's 10 percent stake in the Fortune venture that makes Jim Beam bourbon to the Swedish state.

The holding is excluded from Pernod's deal to buy V&S.

The Stockholm district court told Reuters it planned to give its decision later on Tuesday.

Svenska Dagbladet said judge Denise Cote rejected the lawsuit in New York on Friday.

Fortune plans to exercise a right to buy the stake in the venture but has been unable to agree with state-owned V&S on a price.



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