NATIONAL DISTILLERS &lt;DR> TO SELL SPIRITS UNIT
  National Distillers and Chemical Corp
  said it signed a definitive agreement to sell its spirits
  division for 545 mln dlrs to James Beam Distilling Co, a unit
  of American Brands Inc &lt;AMB>.
      The sale of the spirits division was made under the
  company's previously announced plan to sell its spirits and
  wines businesses, it said. The wine business was sold last
  month for 128 mln dlrs to Heublein Inc, part of Grand
  Metropolitan PLC, National Distillers said.
      The purchase price will be paid in cash, a National
  Distillers spokeswoman said.
      The sale permits National to focus on its core businesses,
  chemicals and propane marketing.
      Proceeds from the sale will be used to repay debt and for
  other corporate purposes, the company said.
      In a separate statement, American Brands said the sale
  would be for 545 mln dlrs plus the assumption of liabilities.
      The sale would be subject to compliance with the
  Hart-Scott-Rodino Antitrust Improvements Act and other
  regulatory approvals, the company said.
      National's distilled spirits business has sales of about
  580 mln dlrs, American Brands said. National's spirits brands
  include Gilbey's gin and vodka, DeKuyper Liqueurs and Windsor
  Supreme Canadian Whisky.
  

