SEAGRAM SELLS MUMM AND PERRIER-JOUET CHAMPAGNE BRANDS
By Adnews Staff
The Seagram Company Ltd. of Montreal has sold its Mumm and Perrier-Jouet Champagne brands to the investment firm of Hicks, Muse Tate and Furst of London, England. Seagram received a cash price of approximately $130 million US for the brands of which it will retain global distribution for. Further terms of the agreement were not disclosed. The transaction, subject to the approval of shareholders, is scheduled to close in July.
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