Campari Shares Fall After Deal to Buy Courvoisier Announced
December 15 2023 - 2:52AM
Dow Jones News
By David Sachs
Davide Campari-Milano shares fell in early trading Friday after
the company said it plans to buy Courvoisier from Beam Suntory.
At 0807 GMT, shares in the Italian distiller were down 4.5% to
EUR9.84 after falling as low as EUR9.70.
The alcohol producer said late Thursday that it was in talks to
buy Beam Holding France, which owns Courvoisier, for a fixed price
of $1.20 billion with an additional payment of up to $120 million,
dependent on achieving sales targets.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
December 15, 2023 03:37 ET (08:37 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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