EU Approves Absolut Acquisition

The European Union has given Pernod “conditional approval” to buy Vin & Sprit (maker of Absolut) for $8.9 billion from the Swedish government. The Commission found problems in various European countries, so Pernod offered to sell Dry Anis in Finland, Serkova vodka in Greece, Lubuski gin in Poland and Star Gin, Red Port and Groenstedts cognac in Sweden. Pernod also agreed to discontinue the distribution of Royal Canadian in Sweden, and will soon end its distribution agreement with the SPI