Diageo PLC (DGE.L)
26 Oct 2016
Latest Key Developments (Source: Significant Developments)
Diageo PLC:Entered into an agreement to acquire the remaining 50 pct interest in the company, thereby making it a wholly owned subsidiary of Diageo.Diageo will acquire this further interest from Pestello Investments Inc. for an initial payment of $22 million (about 14.8 mln pounds) and a potential earn-out payment of up to $14 million (about 9.4 mln pounds).Transaction is conditional on (among other things) consent from the South African competition authority and is expected to complete in this fiscal year. Full Article
Diageo PLC:Completed the acquisition of full global ownership and control of Tequila Don Julio following the receipt of all regulatory approvals.The acquisition strengthens Diageo's position in the growing super premium and above tequila segments globally and the important tequila market in Mexico with an already and well-positioned brand.Gaining full ownership and distribution rights for Tequila Don Julio and Tres Magueyes, alongside the 'La Primavera' distillery, inventory and agave supply.Gives Diageo the ability to make investment decisions across supply, marketing, and innovation to support the continued growth of the brand, and become more competitive in the category. Full Article
Diageo PLC:Says interim dividend of 21.5 pence per share will be paid to holders of ordinary shares and ADRs on the register as of Feb. 27.Dividend will be paid to shareholders on April 07 and payment to US ADR holders will be made on April 10. Full Article
ABUJA/LONDON, Oct 5 Diageo has scrapped plans to lift its stake in Guinness Nigeria due to tough conditions in one of its biggest markets for the world-famous stout, the drinks company said on Wednesday.