France/Japan: Kirin has begun selling its shares back to Paul Ricard’s company, following Kirin’s new joint venture deal with rival drinks giant Diageo.
Kirin Holdings Netherlands BV (“Kirin”) and Le Delos Invest 3 (“LDI 3”), the share capital of which is totally held by Société Paul Ricard, entered into a sale agreement on 10 April 2009, in which LDI 3 undertakes to buy and Kirin undertakes to sell the full stake held by Kirin in Pernod Ricard.
The stake consists of 8,227,544 shares representing 3.74% of the share capital and 3.37% of the voting rights of Pernod Ricard.
The deal is expected to complete in the second quarter of the year.
