Key Developments: Diageo PLC (DGE.L)
20 Dec 2013
Latest Key Developments (Source: Significant Developments)
Diageo plc announced that it has acquired Cabin Fever Maple Flavored Whisky. Cabin Fever Maple Flavored Whisky was originally launched as a family business, run by the Robillard Family. The brand will be the newest addition to Diageo's Catalyst Division, which focuses exclusively on high potential brands. Made with real maple syrup, Cabin Fever Maple Flavored Whisky is an 80 proof whisky currently available in certain markets at a suggested average retail price is $19.99 for a 750ml bottle. Diageo will initiate the national roll out of Cabin Fever Maple Flavored Whisky in fall 2012. Terms of the transaction were not disclosed. Full Article
Diageo plc announced that it has reached agreement with Ypioca Agroindustrial Limitada to acquire the cachaca brand, Ypioca, and certain production assets. The consideration is BRL900 million (approximately GBP300 million) in cash and the transaction is expected to complete in a month. Morgan Stanley acted as financial advisors to Diageo in this transaction. Full Article
Diageo plc announced that it has launched and priced a $2.5 billion bond transaction consisting of $1 billion 1.5% May 2017, $1billion 2.875% May 2022 and $500 million 4.25% May 2042 fixed rate notes under its US Debt Issuance Programme. The issuer of the 2017 bonds is Diageo Capital plc and the issuer of the 2022 and 2042 bonds is Diageo Investment Corporation, with payment of principal and interest fully guaranteed by Diageo plc. Citigroup, Credit Suisse, Deutsche Bank Securities, HSBC, Morgan Stanley, Nomura and RBS were book-running managers. Proceeds from this issuance will be used primarily for general corporate purposes. Full Article
Diageo plc announced that it has completed the acquisition of Meta Abo Brewery Share Company SC ('Meta Brewery') with the purchase of the entire share capital for a consideration of USD225 million, subject to customary post completion adjustments. The acquisition will give Diageo direct access to the Ethiopian beer market and will complement Diageo's existing premium spirits business in the country. Full Article
MUMBAI, Dec 20 - A regional court in India on Friday ordered the annulment of the sale of United Spirits to British spirits group Diageo, dealing a further blow to a transaction beset by complications, though Diageo said it would appeal the decision.