Aug 29 Shares of Central European
Distribution Corp rose as much as 40 percent after
private investor Mark Kaufman reported a 9.6 percent stake in
the Polish vodka maker.
Kaufman may engage in talks with CEDC's management and board
concerning the company's business, financial condition and
strategy, among other things, he said in a filing with the
Securities and Exchange Commission.
The stake purchase values Kaufman's holding at $39.1
million based on the stock's current price.
Kaufman is a business consultant for the wines and spirits
industry and was the chief executive of the Whitehall Group, an
importer and distributor of wines and spirits in Russia,
according to the filing.
Earlier this month, CEDC cut its full-year profit outlook
blaming additional costs due to new regulations in its key
Russian market. [ID: nL3E7J44MK]
Shares of the company, which makes Absolwent and Parliament
vodka and gets about 65 percent of its revenue from Russia, were
trading up 33 percent at $7.28 on Monday on Nasdaq.
(Reporting by Chris Jonathan Peters in Bangalore; Editing by