As reported in the Spanish press, the transaction will apparently be formalized today (16 March) and brings an end to a long period of negotiation between the two companies.

Rumors of the takeover surfaced nearly two years ago and seemed increasingly likely at the start of this year.

Freixenet, which also owns vineyards and brands in Argentina, Australia, Mexico, and Champagne, has been valued in the region of €550m and it is believed Henkell at one point may have put in a tender to buy the group outright but several of Freixenet’s major shareholders including presidents, José Ferrer and José Luis Bonet have apparently retained their shares.

Both Henkell and Freixenet have been contacted for comment, though Henkell declined at the present time.

Read More at source: The Drinks Business