Orlando, FL 12/8/11 (StreetBeat) -- Vodka producer Russian Standard Vodka, owned by billionaire Roustam Tariko, has offered to buy another 19.9 percent stake in Polish rival Central European Distribution Corp (Nasdaq:CEDC) said.Russian Standard already has a 9.9 percent stake in CEDC, it disclosed in a filing in November.
CEDC said in a press release on Thursday that it had been in talks with Russian Standard regarding an investment and intends to evaluate the proposal. It said that no agreement has been reached regarding valuation.
Russian Standard's proposal is to buy the additional shares in exchange for assets of Roust, its Russian spirits importer, and to help CEDC restructure its debt.
Russian Standard's Roust imports premium spirits, including Remy Martin and Cointreau, according to its website.
CEDC, which holds a portfolio of some well known brands on the Russian and Polish markets such as Absolwent and Parliament, has twice slashed its outlook this year.
Tariko, who has a fortune estimated at $1.9 billion by Forbes magazine, also founded Russian Standard, a leading consumer lender. He also owns beauty pageant Miss Russia according to a recent Financial Times article.
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