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* Seagram Co., in its latest move to sell assets and pay down debt, will sell two prestigious champagne makers to investment firm Hicks, Muse, Tate & Furst for $310 million. The Canadian beverage and media company will continue to distribute the two French brands, Mumm and Perrier-Jouet, and will keep its California sparkling wine operation, Mumm Cuvee Napa.

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