Allied Domecq could lose the rights to distribute and market Stolichnaya vodka if it agrees to a takeover by French drinks group Pernod Ricard.

Stolichnaya’s Russian-owners SPI-group said that it may pull out of its arrangement with Allied if there is a change of ownership at the company.

SPI has appointed HSBC to help it review its options concerning the future distribution of its brands.

Pernod along with US-based Fortune Brands is expected to table a bid worth up to £7.5bn for Allied Domecq tomorrow.