Page last updated at 07:22 GMT, Wednesday, 8 April 2009 08:22 UK

France's Pernod sells Wild Turkey

Jameson and Wild Turkey whisky
Pernod is the second-biggest alcoholic drinks group in the world

Drinks maker Pernod Ricard has announced a 1bn-euro ($1.3bn; £897m) share sale to cut its debt.

The French group is also planning to sell its Wild Turkey bourbon whisky brand to Italy's Campari for $575m.

Pernod, which owns Havana Club rum and Jacob's Creek wine, took on debt when it bought Absolut vodka last year.

The sale of Wild Turkey is part of a planned sale of some of its brands to meet the European Commission's competition regulations.

Pernod is the second-biggest alcoholic drinks group in the world after Diageo.

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