Pernod Ricard, Diageo and Vivendi finalise Seagram acquisition

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Pernod Ricard has confirmed that together with Diageo, it has reached agreement with Vivendi Universal on the purchase price adjustment relating to the Seagram drinks purchase

The original $8.15bn price needed adjusting to reflect working capital changes and the final debt position.

At the same time, other subjects linked to the acquisition have been settled, including the consequences of the trade overstocking for which Pernod Ricard received $20m. This results for Pernod Ricard in net windfall payment of approximately $18m.

Diageo is paying an extra $145m to Vivendi Universal and Pernod Ricard to cover the adjustments. Vivendi will receive $127m.