Absolut Vodka Will Be Privatized
Absolut Vodka, perhaps the last state-owned vodka in Europe, will be privatized next year. The Swedish government will auction off its parent company Vin & Spirit, considered the crown jewel of entrepreneurial heritage in the state.
The sale of the company could fill the state’s coffers with the equivalent of about five billion euros. The government confirmed that talks have already begun with several potential buyers and have set two conditions: the group of Vin & Spirit companies must be sold together, and Absolut Vodka must continue to be produced in Swedish territory.
The world’s largest producers of wine & spirits, corporations such as France’s Pernod-Ricard, Britain’s Diageo, and U.S’s Bacardi, have all shown interest in purchasing Vin & Spirit.
This is the most important step in the privatization program, which is being carried out by the new government of Estocolomo. The goal is to raise the equivalent of 20 billion euros. Absolut Vodka is a Swedish product that has been most successful as an export. Last year Absolut sold 89 million liters in 126 countries.
[Photo Absolut.com]
