Marie Brizard Sale Key To Belvedere Future

French drinks group Belvedere has signed an agreement with private equity firm Global Emerging Markets Group for the latter to extend an equity line of credit for EUR70mn (US$89mn). The agreement could see Belvedere surrender a stake of 19.9% if it uses the entire loan. Belvedere has also announced that is has extended the deadline for the sale of its Marie Brizard unit. The latter announcement was attributed to a new potential buyer emerging. However, the firm previously entered into 'exclusive negotiations' with France's COFEPP for the sale of this unit, so the announcement perhaps raises more questions than it

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