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The French hate it when foreigners take over their companies but they’re quite happy if it happens the other way round: Pernod buys Absolut vodka firm for $8.87 billion

France’s Pernod Ricard has won an auction to buy Sweden’s Vin & Spirit AB VSG.UL, the maker of Absolut vodka, in a deal worth 5.63 billion euros ($8.87 billion) including debt. Absolut is the world’s third-largest premium liquor in terms of volume.