* Remy Cointreau puts champagne business up for sale
* Hired Credit Agricole-CIB as advisers
PARIS, Nov 15 (Reuters) - Remy Cointreau has put up for sale its champagne business, which includes brands Piper-Heidsieck and Charles Heidsieck, and hired Credit Agricole-CIB as advisers, the French drinks group said.
"The conclusion of a sale agreement will remain subject to the necessary information disclosure, consultation and authorisation procedures, in accordance with current regulations," Remy Cointreau said in a statement on Monday.
No-one at Remy Cointreau was immediately available for comment.
The company's champagne business was loss-making at the operational level in its 2009/2010 fiscal year and it has said it aimed to return it to profitability in the year 2010-2011.
Remy's champagne sales fell to 96.7 million euros in the 12 months to March 2010 from 125.9 million the previous year, marking a drop in like-for-like terms of 23.7 percent.
Remy Cointreau shares were up 0.21 percent at 52.30 euros by 0958 GMT. (Reporting by Astrid Wendlandt; Editing by Jon Loades-Carter)