Bloomberg News

CEDC Surges in New York on Russian Standard Stake Proposal

February 02, 2012

Feb. 2 (Bloomberg) -- Central European Distribution Corp. rose the most in eight weeks in New York as the Warsaw-based vodka producer said it will consider Russian Standard Corp.’s proposal to raise its stake in the company to 33 percent.

CEDC, owner of the Zubrowka and Parliament vodka brands, advanced 22 percent, the most since Dec. 8, to $5.44 at 9:57 a.m. in New York. Shares have gained 37 percent this week after falling 81 percent in 2011.

Chief Executive Officer William Carey said CEDC will “certainly consider” a proposal by Russian Standard, controlled by billionaire Roustam Tariko, to convert $103 million of bonds into shares in the vodka producer as well as buy new stock.

--Editor: Marie-France Han

To contact the reporter on this story: Leon Lazaroff in New York llazaroff@bloomberg.net

To contact the editor responsible for this story: Emma O’Brien at Eobrien6@bloomberg.net


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