Pernod Ricard denies having put new investments on hold in India

PARIS (Reuters) – French spirits group Pernod Ricard said on Tuesday it was denying having put new investments in India on hold.

“Pernod Ricard refutes having put new investments on hold in India, as claimed by local media this morning,” a Pernod Ricard spokesman said in an e-mail to Reuters.

“In this news, any reference to the discussions with local authorities that have been reported are out of context,” he added.

Reuters reported earlier on Tuesday that Pernod Ricard had put new Indian investments on hold due to long-running tax disputes with authorities on valuing liquor imports, citing two sources with direct knowledge and company letters seen by Reuters.

(Reporting by Dominique Vidalon; Editing by Benoit Van Overstraeten)