Champagne Indage
Champagne Indage Ltd has informed that the Company is entering into an arrangement (through its Wholly owned subsidiary, Indage Holdings Ltd.) with a Swedish Company for acquisition of distillery assets, ownership / licensing of luxury vodka brands produced in Sweden and their distribution rights with an option to acquire equity upto 49% in the Swedish Company over a period of 3 years. The arrangement will increase Company’s distribution bandwidth in the various global markets in the Vodka segment. The investment in the Swedish Company would be about USD 10 Million in the form of optionally convertible debt, working capital and funding for strengthening the marketing network of the Swedish Company. The detailed agreement is being finalized after the financial and legal due diligence.
