PRIVATE EQUITY GROUP SAYS IT WILL BID FOR V&S
Sweden’s private equity firm EQT confirmed interest in buying Vin & Sprit once its privatized by the government, a spokesman said today (Oct. 10).
It looks like if EQT is successful in acquiring V&S, it will separate the drinks group in two entities with Absolut forming one part.
“It's an interesting company, and EQT is a good owner of this kind of company. It's obvious that the different parts can be developed best as separate entities.”
Of course, the Swedish government hasn’t announced an official timetable for the sale and it is not known if the company will be sold publicly or privately.
Most industry insiders consider Fortune and Bacardi as the frontrunners for Absolut, but Pernod and Diageo have also shown interest in acquiring the company.
In August, Norm Wesley publicly cautioned the Swedish government that private equities with a with a three- to five-year horizon for investments and aggressive return expectations would be more tempted to "flip" the company rather than secure its longer-term interests. In the current credit environment, he said, private equities would have a harder time financing a deal.
It looks like if EQT is successful in acquiring V&S, it will separate the drinks group in two entities with Absolut forming one part.
“It's an interesting company, and EQT is a good owner of this kind of company. It's obvious that the different parts can be developed best as separate entities.”
Of course, the Swedish government hasn’t announced an official timetable for the sale and it is not known if the company will be sold publicly or privately.
Most industry insiders consider Fortune and Bacardi as the frontrunners for Absolut, but Pernod and Diageo have also shown interest in acquiring the company.
In August, Norm Wesley publicly cautioned the Swedish government that private equities with a with a three- to five-year horizon for investments and aggressive return expectations would be more tempted to "flip" the company rather than secure its longer-term interests. In the current credit environment, he said, private equities would have a harder time financing a deal.
posted at 9:03 AM
<< Home