Pernod Ricard continues to reduce its debt with the disposal of Tia Maria to Illva Saronno for € 125 million
28-Jul-2009 |
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Pernod Ricard announces the disposal of Tia Maria™ coffee liqueur to Illva Saronno for a cash consideration of € 125 million on a cash free / debt free basis. The transaction signed and the cash consideration was paid simultaneously on 27-Jul-2009.
The sale of Tia Maria together with other disposals completed since the acquisition of Vin & Sprit in July 2008 enables Pernod Ricard to continue its debt reduction program having achieved disposals totalling in excess of € 700 million.
As part of the transaction; Chivas Brothers Limited has been appointed to produce Tia Maria for Illva Saronno, arrangements have been made for short term transitional distribution services to be provided by Pernod Ricard affiliates, some longer term distribution agreements will be entered into in certain markets, Pernod Ricard Argentina has been appointed to produce and distribute the brand in
Argentina.
(c) Centre for Asia Pacific Aviation. Date posted: 28-Jul-09
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Pernod Ricard continues to reduce its debt with the disposal of Tia Maria to Illva Saronno for € 125 million 
