News

Campari-Milano Raises Funds for Acquisition of Courvoisier Cognac

1 Mins read

By Andrea Figueras

Italian distiller, Davide Campari-Milano, has successfully raised €1.2 billion ($1.31 billion) through a discounted share offering and convertible bonds. The funds will be used to support Campari’s planned acquisition of the owner of Courvoisier cognac and strengthen its financial position.

Share Offering

The shares were priced at €9.33 each, compared to Campari’s closing share price of €9.93 on Tuesday, resulting in a total of €650 million raised through this offering. The new shares represent 5.6% of Campari’s issued and outstanding ordinary share capital and offer the same rights as existing ordinary shares, including dividend rights.

Convertible Bonds

Additionally, Campari will raise €550 million through the issuance of convertible bonds. These bonds have a maturity period of five years, providing an alternative source of financing for the company.

Acquisition Plans

In December, Davide Campari-Milano announced its exclusive negotiations with Beam Suntory for the acquisition of Beam Holding France, the owner of Courvoisier cognac. The acquisition is valued at up to $1.32 billion and is seen as a strategic move to expand Campari’s portfolio.

Related posts
News

Solana Price Prediction: SOL Price Could Jump 15% But One Meme Coin Set For Life Changing Gains - Crypto Economy

2 Mins read
While SOL continues its impressive run, another project is quietly building momentum, promising not just gains but genuinely life-changing opportunities for early…
News

The costliest chai in India: How credit cards sell you the lounge dream

6 Mins read
Twitter is full of airport lounge selfies. The chai and coffee is free and the chairs feel premium. But the real cost…
News

Wall Street veteran uses AI to imagine MicroStrategy's Chapter 11 bankruptcy in 2026

1 Mins read
Though the MicroStrategy (Nasdaq: MSTR) stock is more than 2,000% up over the last five years, not everyone is positive about the…

Leave a Reply

Your email address will not be published. Required fields are marked *

30 − 21 =