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CEDC Considers Proposal

Central European Distribution Corp. will "certainly consider" Russian Standard's proposal to raise its stake in the company to 33 percent, chief executive William Carey said.

Russian Standard, controlled by billionaire Roustam Tariko, seeks to convert $103 million of bonds into shares in the vodka producer that owns the Zubrowka and Parliament brands, as well as buy new stock, Tariko wrote in a letter to CEDC's board of directors Wednesday.

"We will certainly consider this proposal as well as other options the company is currently exploring, for the best benefit of our shareholders," Carey wrote in a statement.

(Bloomberg)

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