Stolichnaya Vodka-owner SPI Group said on Tuesday it was holding talks with Russian financial interests regarding Poland's indebted Central European Distribution Corp, one of the world's largest vodka producers. Shares in Nasdaq-listed CEDC have plunged by over 80 percent so far this year to $0.67, hit by financial problems, the resignation of its chief executive and recent battles with shareholders over control of the company.The most pressing problem for CEDC, which makes Absolwent and Parliament vodka, is that it has $258 million in convertible loan notes maturing on March 15 and last week it was reported in a U.S. regulatory filing that the A1 investment arm of Russia's Alfa Group was interested in putting together a rescue consortium that would involve CEDC's two biggest shareholders.Russian billionaire and CEDC chairman Roustam Tariko holds a 20.2 percent stake via his Moscow-based vodka to financial services conglomerate Russian Standard Corporation, according to Thomson Reuters data, while CEDC's second biggest shareholder is Mark Kaufman, with 9.22 percent.SPI, which holds 2013 and 2016 loan notes in CEDC, said on Tuesday it has appointed Nomura to "evaluate alternatives" with regards to CEDC but did not elaborate on what those alternatives were.
Central European Distribution Corporation (CEDC), operates primarily in the alcohol beverage industry. Shares of CEDC fell by 10.73% or $-0.0714/share to $0.59. In the past year, the shares have traded as low as $0.48 and as high as $5.77. On average, 1307260 shares of CEDC exchange hands on a given day and today's volume is recorded at 1257762.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI remained unchanged at $30.52. In the past year, the shares have traded as low as $26.20 and as high as $31.18. On average, 872130 shares of TRI exchange hands on a given day and today's volume is recorded at 0.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.12% or $0.35/share to $31.69. In the past year, the shares have traded as low as $26.65 and as high as $31.59. On average, 916283 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 948633.
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