26th Jan 2007 15:07
Diageo PLC26 January 2007 26 January 2007 Diageo confirms equity acquisition in Chinese business In connection with its proposed acquisition of 43% of the equity of SichuanChengdu Quanxing Group Co., Ltd., Diageo Highlands Holding B.V. has made aformal announcement regarding the terms of the agreement to the Shanghai StockExchange on 27 January 2007. Diageo plc accordingly makes the followingannouncement to the London Stock Exchange: Further to an equity interest transfer agreement dated 11 December 2006, asamended on 23 December 2006, Diageo Highlands Holding B.V., a subsidiary ofDiageo plc, will acquire 43% of the equity of Sichuan Chengdu Quanxing GroupCo., Ltd. ("Quanxing") from Chengdu Yingsheng Investment Holding Co., Ltd.,subject to certain closing conditions. Quanxing holds 39.48% of the equity in Sichuan ShuiJingFang Joint Stock Co.,Ltd. ("ShuiJingFang"), a leading maker of premium traditional Chinese liquor, orbaijiu. ShuiJingFang is listed on the Shanghai Stock Exchange. The agreedpurchase price for the 43% equity interest is RMB 517,194,200, which will befunded from internal sources. Diageo Highlands Holdings B.V. expects the transaction to complete shortly. For further information contact: Media Relations: Jennifer Crowl +44 (0)20 8978 8647 [email protected] Investor Relations: Sandra Moura +44 (0)20 7927 4326 [email protected] Notes to Editor: Diageo is the world's leading premium drinks business. With its global vision,and local marketing focus, Diageo brings to consumers an outstanding collectionof beverage alcohol brands across the spirits, wine and beer categoriesincluding Smirnoff, Guinness, Johnnie Walker, Baileys, J&B, Jose Cuervo,Captain Morgan and Tanqueray, and Beaulieu Vineyard and Sterling Vineyardswines. Diageo trades in some 180 countries around the world and is listed onboth the New York Stock Exchange (DEO) and the London Stock Exchange (DGE). Formore information about Diageo, its people, brands and performance, visit us atwww.diageo.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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