Seagram boosts stake in venture

Article Abstract:

Seagram Co. Ltd. will increase its stake in its 16-year old joint venture with the struggling South Korean conglomerate Doosan Group, from 50% to 77.8% for $90 million in cash and loans. The move to boost its liquor holdings exploits the effects of the battered Asian market in Doosan whose reins will be assumed by Seagram. The firm is not alone on exploiting regional partners and rivals as many US and European firms are also increasing their hold in Asia by giving in to new market-opening measures. Meanwhile, Seagram also plans to divest its Tropicana Products Inc. juice unit under what could possible be the biggest initial public offering in US history.

Comment:

Will increase its stake in a joint venture with struggling South Korean firm Doosan Group, from 50% to 77.8%

South Korea, Joint ventures, Doosan Group

---

Seagram revamps spirits business

Article Abstract:

Seagram Company Ltd. looks to implement a revamping initiative for its primary business on wine and liquor products. Seagram's liquor and wine operation, which contributes close to 50% of the firm's revenues every year, will have its management structure reorganized and its marketing and sales staff for vital product brands energized. The planned revamping of Seagram's wine and liquor operations will also result to the concentration of operations on key markets, such as South Korea, United Kingdom, Germany, United States, Spain and Japan, and key product brands, such as Captain Morgan Original Spiced rum, Absolut Vodka, Crown Royal and Chivas Regal.

Comment:

Looks to implement a revamping initiative for its primary business on wine and liquor products

Strategy & planning

---

Similar abstracts:

• Abstracts: Harrowston boss rejests takeover bid. Seagrams consider buying another round
• Abstracts: Seagram gets Polygram for less than negotiated. Seagram snares PolyGram
• Abstracts: Ranger CEO challenges Petrobank. Petrocan to sell stake in venture near Norway
• Abstracts: Canada beats U.S. in on-line banking use. Call-Net dials into business market
• Abstracts: CAE shares hammered in wake of attacks. JetForm reports loss despite revenue jump. CGI hammered as investors flee following profit warning

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.