A1 to Form Consortium for CEDC Revamp
A1, a Russian Alfa Group unit, disclosed in U.S. securities filing its interest in forming a consortium to revamp Central European Distribution Corp., one of the largest vodka producers in the world.
The venture capital unit's president wrote to the holders committee of the vodka producer's notes maturing in 2016 to reveal its plan of assembling a group to invest up to $250 million to restructure CEDC, according to a filing with the Securities and Exchange Commission.
Mark Kaufman of Monaco, the second largest shareholder of CEDC, was the one who made the filing with SEC.
CEDC has been struggling from its financial woes which were fueled by shareholders' competition over control of the company and the resignation of its chief executive.
The vodka producer had emphasized its aim of filing for bankruptcy as it is baffled by its debts.
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