FoodClips
Source: RTTNews
Central European Distribution Corp. Decides Not To Pursue The Acquisition Of Nemiroff
July 7 2010 - Central European Distribution Corp. (CEDC: News ) said on Tuesday that it has decided not to pursue an acquisition of Nemiroff.
The net proceeds expected from the sale of the Polish distribution business, which were initially targeted as partial consideration for the acquisition of Nemiroff, are anticipated to be redeployed to maximize return on capital, increase fully diluted earnings per share and/or reduce financial leverage.
Read more [http://www.rttnews.com/ArticleView.aspx?Id=1352233]
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Central European Distribution Corp
Address: Two Bala Plaza Suite #300 Philadelphia, PA 19004 United States
Telephone: +1-610-6607817
Fax: +1-610-6673308
About Central European Distribution Corp
Central European Distribution Corporation (CEDC) is an integrated spirit beverages business. The Company produces vodka at Poland and is a distributor of alcoholic beverages. The Company is also an importer of spirits, wine and beer in Poland, Russia and Hungary. Its products are also exported out of Poland. CEDC offers a portfolio of alcoholic beverages with over 700 brands. In May 2008, the Company completed the acquisition of a 50% minus one voting power and 75% economic interest in the Whitehall Group. On March 11, 2008, the Company acquired 85% of the share capital of Copecresto Enterprises Limited, a Cypriot company. On July 9, 2008, the Company closed a strategic investment in RAG through an equity investment which provided the Company with an indirect stake of approximately 42% in RAG. On September 24, 2009, the Company closed its acquisition of the remaining 15% interest in Copecresto Enterprises Limited.