UK alcoholic beverage giant Diageo Plc is planning to offload its wine operations across the US and the UK for $552mn (euro483mn) to Treasury Wine Estate, an Australia-based company. Treasury Wine Estate is also in the process of acquiring Blossom Hill, Britain's second largest wine brand. The acquisition deal for Diageo is subject to the approval of UK regulator and also the US anti-trust review. The acquisition deal is expected to be completed in next three months.
British Multinational Beverage Company Diageo Plc is planning to increase its majority stake in the Lagos, Nigeria-based brewer Guinness Nigeria Plc to 70 percent, which is worth $200 million. Diageo, the biggest distiller in the world and maker of Johnnie Walker, plans to offer 175 naira a share to raise its shareholdings in Guinness Nigeria to 70% from 54.3%. According to the report published at Bloomberg, that deal would cost about 41.38 billion naira, or $208 million. Guinness shares spiked 5 percent to 131.48 naira Wednesday after it announced Diageo's plans. This valued the Nigerian brewery at 198 billion naira.
Brazilian billionaire Jorge Paulo Lemann and his partners in private equity firm 3G Capital are considering a potential bid for Diageo PLC, the world's largest producer of spirits, the Brazilian newsweekly Veja reported on Friday.
Diageo PLC (DGE.L) is nearing a deal with Jose Cuervo that would give the British liquor company full ownership of Don Julio tequila in exchange for its Bushmills whiskey label, the Wall Street Journal reported on Saturday, citing people familiar with the matter.
The leading vodka brands in the United States are losing their buzz as craft distillers and other alcoholic drinks infringe on their turf.
Diageo Plc expressed its interest in acquiring 29 percent United Spirits stake, reported ET.
United Spirits could raise as much as £675 million ($1.1 billion) in the sale of Whyte & Mackay Scotch if it will include single malt Dalmore. Sources estimate that Whyte & Mackay's exit, excluding Dalmore, is worth £450 million.
In order to comply with competition issues surrounding its July acquisition of Whyte & Mackay owner United Spirits Limited, Diageo PLC offered to sell majority of the latter's distilleries.