Belgian billionaire Albert Frere’s brought a 5.05 percent stake in Pernod Ricard SA, the world’s second-largest liquor maker.
Frere’s Groupe Bruxelles Lambert SA holds 5.5 million Pernod shares worth $1.2 billion and became second biggest shareholder after founder Paul Ricard’s family. The Ricard family holds 10.7 percent of Pernod Ricard.
Frere already has shares in the France’s Cheval Blanc vineyard, and may be attracted to invest in Pernod Ricard because he expects the company to grow through acquisitions.
After announcement Pernod shares jumped more than 6 percent, with 3 million shares traded, the highest volume in almost two years. The stock is at its highest since 1989.
