US drinks giant Sazerac wants to buy German distiller Berentzen

Germany | Privately-owned Sazerac wants to acquire the listed German spirits company Berentzen Group as it broadens its presence in Europe. The deal is not a done deal yet as it still requires regulatory and shareholder approval. And here trouble looms. One of Berentzen’s shareholders, the Swiss pension fund Aevum, which has raised its stake to 10 percent stake and is Berentzen’s third-largest, considers the cash offer of EUR 5.55 (USD 6.31) per share to be too low. Sazerac’s offer already represents a premium of 68 percent to the average price during the three months prior to the announcement. But, still, Aevum does not want to sell, media reported on 9 October.

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