Mumbai: US-based Fortune, maker of Jim Beam bourbon, now leads the $6 billion-plus race to acquire Sweden's Absolut vodka, following the exit of Diageo, as the world's biggest alcoholic drinks group.

Diageo's pull-out of the race for Absolut was also due to Fortune's distribution deal for Absolut. Diageo, which pulled out of the process on Wednesday, said it saw little chance of success with Fortune and Absolut so closely linked.

Top spirit makers, including France's Pernod Ricard, privately-owned Bacardi and Fortune, were all interested in Absolut.

Diageo, which opted out, instead bought a stake in a Dutch vodka firm.

"The Absolut process has become tortuous and the belief is that the Swedes favuor the incumbent distributor, which is Fortune," said one source close to the talks.

Fortune may be the smallest of the big four spirits groups but its 10-year distribution deal in the key US vodka market for Absolut, which runs to 2012, has put it in the driving seat and make bids from its rivals more difficult.

The Swedish government put Absolut's owner Vin & Sprit up for sale in December as part of a state sell-off, and Pernod, Bacardi, Fortune and Sweden's Investor in partnership with private equity firm EQT are all bidding.

Absolut sold 10.7 million 12-bottle cases in 2007 putting it as the world's number four best selling international spirit brand behind Diageo's Smirnoff, Bacardi rum and Diageo's Johnnie Walker scotch.

Fortune which has a 10-year distribution deal with Absolut in the US, lasting until 2012 and shared rights elsewhere in the world. Fortune controls Absolut's distribution in the US through the joint venture Future Brands, in which it owns 51 per cent with V&S owning 49 per cent. The Swedish group owns a 10 per cent stake in Fortune.