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Friday, September 21, 2007

Shot at Absolut Could Cost Drinks Giants $6 Billion

Sweden's government plans to auction off Vin & Spirit next month and the company's leading brand, Absolut vodka. The little Swedish garage sale is likely to bring in $6 billion according to sale watchers.

Some of the world's largest drinks firms have expressed an interest in Absolut. Diageo, Pernod Ricard, Bacardi and Fortune Brands have all been looking the company over and are said to be preparing bids.

Vin & Sprit was found by the Sweden as a state-run company in 1917 as an alcohol monopoly. In the United States it is the second largest selling vodka.

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