BRUSSELS BACKS CASTEL TAKEOVERS OF COVEA GROUP’S DRINKS SUBSIDARIES
April 1st, 2011
BY KEITH NUTHALL
FRENCH wine producer Castel has continued its steady expansion through mergers and acquisition with the European Commission clearing its latest gambits: a 50%-50% joint takeover (with Japan's Suntory) of France-based wine company Grands Millésimes de France, and sole purchase of French wine and spirit company Savour Club and wine company MAAF Subsidiaries. All target companies are subsidiaries of the French Covea Group, an insurance company. Following an inquiry, acting as Europe's most powerful competition regulator, the Commission concluded ...
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