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Thursday, January 13, 2011

Oaktree selling vodka-maker Stock Spirits -sources, (NASDAQ: CEDC)

Oaktree Capital Management will this month begin an auction of Stock Spirits, a $1 billion-plus central European drinks company, sources said, in a sale that could interest private equity firms and rival drinks companies. Oaktree, the Los Angeles-based investor, has not definitively decided to sell Stock Spirits, and is also considering an initial public offering (IPO) of the company, two people familiar with the matter said. In November, Stock Spirits, whose drinks range from high-end Polish vodka Czysta de Luxe to Czech plum brandy said it had hired Credit Suisse to advise it on "future strategic options". A month earlier, the Sunday Telegraph said the firm was interviewing advisers ahead of a planned 1 billion euro London listing in early 2011. Buyout firms with regional or sector experience that could consider bidding include Advent International, CVC [CVC.UL], TPG [TPG.UL], Warburg Pincus [WP.UL], and Lion Capital, which sold Russian Alcohol Group to Stock's listed rival Central European Distribution Corp (CEDC.O) in 2009.

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