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Russian Standard proposes alliance with CEDC
Russian Standard Corporation has proposed the additional acquisition of nearly 20% of Central European Distribution Corporation’s (CEDC) shares as part of a "strategic alliance".
The deal for "approximately 19.9%" of CEDC shares would see Russian Standard owner Roustam Tariko exchange assets in Roust, his distribution company, and assist CEDC in restructuring its debt.
The move follows the news last week that Russian Standard has acquired 9.9% of CEDC’s shares for $25.35 million.
CEDC, which claims to be the largest producer of vodka in the world, has said its board of directors will evaluate the proposal to “act in the best interest of the company’s shareholders".
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