Buyers reportedly closing in on Independent Liquor

Independent Liquor has made its name in the market for its range of ready to drink (RTD) beverages.

MELBOURNE - The world's biggest drinks company, Diageo Plc, is among six groups believed to be on the short list of bidders for privately owned New Zealand drinks group Independent Liquor Ltd, the Australian Financial Review reported today.

The others on the list were Foster's Group Ltd, Lion Nathan Ltd, Coca-Cola Amatil Ltd, and private equity investors Pacific Equity Partners and Nikko Principal Investmemnts, the newspaper said without citing any sources.

Some analysts estimate Independent Liquor could fetch up to A$1.1 billion ($1.25 billion).

The drinks manufacturer, being advised by UBS, was put up for sale after founder Michael Erceg was killed in a helicopter crash last November.

- REUTERS