U.S. approves Pernod's purchase of Absolut maker

WASHINGTON (Reuters) - Pernod Ricard (PERP.PA: Quote, Profile, Research) of France won approval to buy Vin and Spirit, which makes Absolut vodka, the Federal Trade Commission said on Thursday.

Pernod Ricard agreed, as a condition of approval, to end its distribution agreement with Stolichnaya owners Spirits International BV, the FTC said.

Pernod Ricard is to pay the Swedish government $8.9 billion for the spirits company under a deal announced in March.

The FTC also was concerned about Pernod Ricard's assumption of V&S's role in the joint venture to distribute Beam Global.

"The consent order preserves the competition between Pernod and Beam Global by imposing firewalls to prevent Pernod from acquiring and using competitively sensitive information about the Beam Global brands," the FTC said in a statement.

Earlier on Thursday, European antitrust authorities in Brussels issued a similar consent decree.

Under the EU order, Pernod Ricard will end its distribution of the vodka brands Stolichnaya and Moskovskaya, which are owned by the SPI Group.

Pernod Ricard has offered to divest Dry Anis in Finland, Serkova vodka in Greece, Lubuski gin in Poland and Star Gin, Red Port and Groenstedts cognac in Sweden.

Pernod Ricard also has committed to discontinue the distribution of a third party's brand, Royal Canadian, in Sweden.