The global giant is still twelve months for the loop completely

Despite the stock market gloom, Pernod Ricard intends to appeal "as soon as possible" to the market by launching a capital increase of EUR 1 billion. Objective: accelerate the reduction of its debt, as the acquisition last year of Swedish Vin & Sprit, producer of the Absolut vodka, made rise to 12 billion euros. The deadlines in the short term of the French group were covered. But those in 2012 not entirely. And, especially, the company wishes to alleviate its financial costs, and its redeeming to rating agencies.

The transaction will be with the maintenance of the preferential right of subscription. The Group Bruxelles Lambert (Albert Frère), which holds 8 of the company, announced its intention to subscribe to the height of its capital increase. Yesterday, investors have however reserved a fairly fresh home project: title fell 7.09, the highest decrease of CAC 40.

At the same time, the number two world of wines and spirits announced the sale of its unique bourbon, Wild Turkey, Italian Campari for EUR 433 million. Primarily marketed in the United States, this bourbon recorded sales growth of 2 to 4, reaching a total of 800,000 cases per year. With this transaction and the recent sale of Glendronach, Cruzan, Bisquit, Serkova with wine brands, Pernod Ricard has made about 60 of the sale of non-strategic assets of EUR 1 billion program announced after the acquisition of Swedish Vin & Sprit. The global giant is still twelve months for the loop completely. The completion of this programme of disposals and proceeds from the capital increase will strengthen the balance sheet and to deal with most of the need to refinance here in July 2013.

The assignment of Wild Turkey to Italian Campari includes liquor American Honey, the distillery and associated assets in Kentucky, and stockpiles of aging bourbon. Pernod Ricard will continue to distribute Wild Turkey in Oceania as well as to the Japan of Transiently. If being one of its 15 brands, this bourbon had a symbolic value in the French group. "This is the first brand acquired for 100 million dollars by Patrick Ricard in 1981, three years after his arrival to the commands in the group," said a spokesman. It was a key to enter the United States, where Pernod Ricard today holds a market share of 14, largely through the acquisitions of the Canadian Seagram in 2001 and British Allied Domecq in 2005.

The decline of the Pernod Ricard action is also explained by the new earnings forecasts disclosed yesterday. The Group confirmed yesterday that the net result for the 2008-2009 year, closing on June 30, expected to increase by more than 10. However, Pierre Pringuet, the Director-General, has revised downward the objective of progression of operating income current due to the decline of 13 of sales in the third quarter, essentially because of the importance of alcohol found "everywhere in the world and especially in the United States." The increase in operating income is expected to be in the range of 3 to 5, 5 to 8 originally planned.