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Article: Pernod Ricard Continues to Reduce Its Debt with the Disposal of Tia Maria to Illva Saronno for [euro] 125 Million.
- Article from:
- Business Wire
- Article date:
- July 27, 2009
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PARIS -- Regulatory News:
Press release - Paris, July 27, 2009
Pernod Ricard (Paris:RI) announces the disposal of Tia Maria[TM] coffee liqueur to Illva Saronno for a cash consideration of [euro] 125 million on a cash free / debt free basis. The transaction signed and the cash consideration was paid simultaneously on July 27, 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 [euro] 700 million.
As part of the transaction:
* Chivas Brothers Limited has ...