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Campari buys the Wild Turkey
MILAN: Italian drinks group Campari said on Wednesday, 8 April 2009, that it is buying the Wild Turkey bourbon whiskey brand from French giant Pernod Ricard for US$575 million (€433 million).
Campari said that this was the biggest takeover in its history and was intended to push the group further into international markets.
Under the deal, to be settled in cash, Campari also acquires the spirits drink American Honey and distilleries in the US southern state of Kentucky.
In Paris, the price of shares in Pernod Ricard was showing a drop of 5.62% to €42, but the fall was attributed to an announcement by the group that it would raise new capital of one billion euros as soon as possible to reduce debt.
Source: AFP
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