27th Feb 2008 07:28
Diageo PLC27 February 2008 27 February 2008 Diageo receives new importation license in Korea Diageo, the world's leading premium drinks business, announces that the KoreanNational Tax Service has issued a new importation license to Diageo Korea,effective immediately. Diageo will transition the business from Sooseok, whohave acted as third party distributor for Diageo's brands since 26 July 2007,and expects to be fully operational from 3 March 2008. Stocks currently held bySooseok and previously sold to the distributor by Diageo will now be transferredback to Diageo. In granting the new license the Korean authorities have included a conditionwhich specifies that by 1 April 2010 a minimum of 50% of Diageo's total scotchwhisky sales volume must be bottled in Korea. Diageo will seek to engage theindustry and review this requirement with the Korean authorities. ENDS Media enquiries - Ian Wright 020 7927 5302Investor Relations - Catherine James 020 7927 5272 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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