13th Aug 2018 13:34
LONDON (Alliance News) - FTSE 100 beer and spirits firm Diageo PLC on Monday said it increased its stake in Sichuan Shuijingfang Co Ltd from 39.71% to a maximum of 60% following a partial tender offer.
Back in July, the Johnnie Walker whisky maker had launched the offer for the Chinese liquor producer through its subsidiary Grand Metropolitan International Holdings Ltd. The offer was at a price of 703 pence per share, valuing the additional 20.29% stake at GBP723.4 million.
London-listed shares in Diageo were trading 0.3% lower at 2,787.50p each on Monday.
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