date:Apr 09, 2013
mated recovery of about 83.7 percent.
The maker of Bols vodka lost about 50 percent of its market value in 2012 amid slumping sales, rising debt and management transitions. After saying it may not be able to pay back debt, CEDC signed an agreement July 9 with Tarikos banking and vodka group Russian Standard Corp., making the billionaire a nonexecutive chairman and allowing him to boost his stake in CEDC in return for buying debt to avoid default.
Shares Fall
CEDC plunged 45 percent to about 1