Stock exchange backs Pernod takeover of Agros

Print Article E-Mail Article

Stock market authorities in Warsaw today backed Groupe Pernod Ricard's bid to exceed its existing stake in Polish vodka business Agros. The authorities issued an opinion allowing Pernod's Santa Lina subsidiary to launch a takeover bid for the entire company's capital.

Pernod already owns 37% of Agros' capital and 74% of its voting rights. Under a recent agreement, a group of other shareholders has undertaken to contribute a further 37.4% of Agros shares to Santa Lina, said Pernod.

Agros is also restructuring its activities around two divisions: its processing division and the spirits export division.