French alcoholic drinks company, Remy Cointreau, is in talks with Societe Europeenne de Participations Industrielles (EPI), to sell its Champagne division, The Wall Street Journal reports. The transaction will include sale of Piper-Heidsieck and Charles Heidsieck brands.

The Champagne unit is estimated to be valued at about €400 million, adds Reuters. In November, Remy had said it intended to sell its champagne division to focus on its cognac brands.

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