Pernod said the two groups aimed to create a strategic partnership covering the production and distribution of a number of Russian spirits brands, including Stolichnaya.
If successful, the deal could end an ongoing dispute over who owns brand rights to Stolichnaya, the world's biggest vodka brand.
"The discussions are ongoing and, while no assurances can be provided that an agreement can be reached, it is the firm intention of both companies to finalize these talks in a swift manner," said Pernod in a statement.
Pernod got its hands on the international distribution rights for Stolichnaya, which is made in Russia by domestic firm SPI, after buying UK rival Allied Domecq last year.
It also recently won a court battle in New York to continue using the brand name in the US.
However, the Russian government has long held that Stolichnaya was sold off illegally in 1997 by the country's then vodka export monopoly firm. A Russian court agreed the sale had been illegal in 2002.