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. Last Updated: 07/27/2016

Paper: French Eye $8Bln Allied Bid

LONDON -- French drinks maker Pernod Ricard is raising funds in London for a pounds 5 billion ($8.01 billion) bid to buy the spirits arm of Britain's Allied Domecq PLC, The Sunday Telegraph newspaper said.

The paper said the family-run group, which makes the famous Pernod aniseed spirit, has hired Banque National de Paris to syndicate a multi-billion pound loan to launch a bid as early as this week.

The offer would be conditional on the sale of Allied's British pubs to Whitbread PLC, which was announced last week, the Sunday Telegraph said.

A successful bid would make Pernod Ricard one of the world's biggest spirits companies, combining Ricard's Jameson and Bushmills Irish whiskeys, Bisquit cognac and Dubonnet vermouth with an Allied portfolio that includes Beefeater gin, Ballantine's whisky, Courvoisier cognac and Sauza tequila.

The bid is more than twice Pernod's pounds 2.4-billion capitalization and could give Whitbread's rivals an opportunity to outbid it for Allied's retailing business.