Oaktree to Float Stock Spirits

Private equity firm Oaktree Capital will float Stock Spirits on the Warsaw bourse in June in an offer worth around 350 million euros ($500 million), Reuters reported. Stock Spirits is one of central Europe’s largest alcohol makers. Oaktree plans to sell as much as 50% of the company.

(Reuters) – U.S. private equity Oaktree Capital will float Stock Spirits, one of central Europe’s biggest alcohol makers, on the Warsaw bourse in June in an offer worth around 350 million euros ($500 million), a source said.

“Stock Spirits will float in Warsaw next month, with Oaktree selling 30-50 percent of the company, waiting to unload more of its 100 percent in a few years,” a person familiar with the plans told Reuters on Tuesday.

Last month, sources told Reuters the world’s biggest spirits group Diageo (DGE.L) has pulled out of the sale process for Stock Spirits, leaving initial public offering (IPO) as the preffered option.

(Reporting by Adrian Krajewski and Pawel Bernat)