Campari says looking at buying opportunities
MILAN (Reuters) - Italian drinks group Campari (CPRI.MI) is looking at buying opportunities in the spirits sector, whose consolidation was seen taking another step on news of a vodka brand going on sale.
Early this week, a source familiar with the matter told Reuters that Russian company SPI had asked Lehman Brothers LEH.N to find a buyer for the Stolichnaya vodka brand.
"As regards Stolichnaya, we have seen the reports in the media," a Campari spokeswoman said.
"Our sector is going through a period of change, therefore we are curious to see the developments, confirming our interest in examining new opportunities, especially in the spirits (segment)," she said.
French wine and spirits group Pernod Ricard (PERP.PA) had been linked to a bid for Stolichnaya towards the end of 2007, but it declined to comment on media reports at the time.
The Wall Street Journal has reported the vodka brand could fetch as much as $3 billion, citing a person familiar with the matter.
It said possible buyers included Fortune Brands Inc (FO.N), Barcadi Ltd of Puerto Rico and Campari, owner of Skyy Vodka, citing a banker familiar with the industry.
Campari shares were up 3.73 percent at 5.92 euros at 1246
GMT.
(Reporting by Maria Pia Quaglia; editing by Sue Thomas)
