(Alliance News) - Campari NV announced Tuesday the completion of the acquisition of 100% of the capital of Beam Holdings France SAS - renamed Courvoisier Holding France SAS - which in turn owns 100% of Courvoisier SAS, owner of the Courvoisier brand

The purchase price amounts to USD1.17 billion corresponding to EUR1.08 billion after exchange rate hedging.

Upon completion, the book value of the aging liquid stock estimated as of April 30 and included in the price paid is USD410 million.

In addition to the price paid, an estimated USD30 million, related to finished product inventory in the seller's trading companies, will be paid to the seller by Campari under an inventory transfer agreement.

The transaction was financed in cash using the group's available resources resulting from the combined offering of new shares issued for EUR650 million and the EUR550 million convertible bond offering addressed to qualified investors on January 10.

Campari trades in the red by 0.2 percent at EUR9.35 per share.

By Claudia Cavaliere, Alliance News reporter

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