SWEDEN - Credit squeeze threatens EUR 6bn Vin & Sprit sale

The sale of Vin & Sprit, owner of the Absolut vodka brand, by the Swedish government might be delayed due to current conditions in the credit market. Vin & Sprit is one of six companies which the Swedish government is planning to sell over the next few years. The spirit business has attracted interest from both private equity and trade buyers. Investor AB and EQT are regarded to be potential bidders for the company, together with trade buyers such as Fortune Brands, Bacardi, Diageo, Anheuser-Busch and Pernod Ricard. Morgan Stanley is currently managing the sales process, after having won the lead mandate from Carnegie, the Swedish investment bank, which lost it due to a trading scandal.