French group Pernod Ricard has been chosen by the Swedish government to take over Vin & Spirit Group, owner of Absolut vodka the fourth largest selling spirits brand in the world. By putting €5.6 billion euros on the table, Pernod Ricard becomes worldwide leader in premium vodkas and the second largest spirits group after the British group Diageo. The Swedish state, which controlled Vin & Spirit, sent out a tender for which two American groups and a Swedish organisation returned bids.

Pernod Ricard expects to find savings of between 125 and 150 million euros from synergies after the take-over. (Source: Les Echos)