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French champagne maker Piper-Heidsieck agreed to a...

French champagne maker Piper-Heidsieck agreed to a takeover offer from cognac distiller Remy Martin to protect itself from a mystery British raider, Piper-Heidsieck Chairman Francois d’Aulan announced. The two family-owned beverage groups struck the deal--in which the d’Aulan family will sell Remy its 56% interest in Piper--after a 15% to 20% block of Piper’s capital changed hands on the Paris bourse. The aristocratic Marquis d’Aulan, whose family controls the champagne concern, said the buyer had not revealed his hand. “But he undoubtedly comes from across the Channel,” he said. On Monday, Remy said it would pay $200 million for Piper.


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