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News
Russian Standard in talks with CEDC
The Central European Distribution Corporation has announced a proposal from Russian Standard for a strategic alliance.
Central European Distribution Corporation today announced the receipt of a proposal from Russian Standard Vodka to purchase further shares in the CEDC.
The increase will take the vodka company’s stake up to nearly 30% and enable the formation of a strategic partnership between the two companies. US based CEDC, which operates almost totally in Central and Eastern Europe, announced that Russian Standard is offering to buy a 19.9% stake, in exchange for unspecified assets in Russian Standard’s Roust Inc spirit import unit.
This second purchase offer comes after Russian Standard made an initial purchase of 9.9% of CEDC’s shares in late November.
According to CEDC, “preliminary discussions” with Russian Standard have gotten underway.
“No agreement was reached as to any matters referred to in the letter from Russian Standard. No due diligence has been conducted with respect to the assets proposed to be contributed to CEDC in exchange for the suggested equity interest.”
CEDC summarised that they are currently “considering the offer.”