Diageo pulls out of auction for Vin & Sprit
Published February 6th, 2008
Diageo, has pulled out of the $6 billion-plus auction for Vin & Sprit, the Swedish maker of Absolut vodka, after buying half of a fast-growing Dutch rival, Ketel One.
“We will no longer be in the Absolut process,” Diageo’s chief executive, Paul Walsh, said Wednesday. “We are acquiring a brand which we believe has greater potential which we can control rather than take part in a process we cannot control.”
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