Sweden's famed Absolut vodka will become absolutely French _ in ownership at least _ following a successful $8.34 billion bid from Pernod Ricard SA.
The French spirits company agreed to pay the Swedish government 5.28 billion euros for Vin & Sprit, the maker of Absolut, outbidding three competitors.
Pernod Ricard also will assume 346 million euros ($546 million) in outstanding debt as part of the deal for Absolut, which was put on the auction block in a sell-off of state-owned companies.
"We wanted to bolster our presence in the U.S. and Absolut, with its 5 million cases will definitely do that," said Pernod Managing Director Pierre …
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