Central European Distribution Corp Making Investors Happy; Up 16%
Central European Distribution Corp (NASDAQ: CEDC), producer of vodka and is Central and Eastern Europe's integrated spirit beverages business, is trading nearly 16% higher today. The company announced earlier that it received a letter from Russian Standard proposing strategic alliance.
The letter outlined a general proposal to acquire an additional approximately 19.9% of the Company's pre-dilution outstanding shares in exchange for assets of Roust and to assist CEDC in restructuring its outstanding indebtedness.
According to Central European Distribution's press release, the company has engaged in preliminary discussions with representatives of Russian Standard as to a possible investment in the Company pursuant to the terms of a confidentiality agreement dated October 7, 2011.
Central European Distribution Corp is currently trading at $5.94. a gain of $0.83 or 16.24%.
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