Diageo PLC (DGE.L)
12 Dec 2018
LONDON/PARIS Elliott Management has built up a stake in Pernod Ricard and called on the family-backed French drinks company to boost profit margins and improve returns for investors.
* Elliott wants cost cuts, suggests merger with rival-source (Adds Pernod Ricard statement, Bernstein comments, updates shares)
LONDON/PARIS Elliott Management has taken a stake in Pernod Ricard and wants the family-backed French drinks company to try to improve its performance via cost cuts and a potential merger with a rival.
PARIS (Reuters Breakingviews) - It’s getting increasingly crowded at the bar for shareholder activists in Europe, but it’s still possible to get a good drink. Elliott Advisors, the U.S. hedge fund manager, has found another decent tipple in the form of Pernod Ricard, the French purveyor of booze like Absolut vodka and Chivas Regal whisky.
LONDON, Dec 7 Guinness will become the title sponsor of the Six Nations rugby tournament from 2019 after a six-year deal was announced on Friday.
Diageo Plc is selling 19 lower-end spirits brands including Seagrams VO Canadian whisky and Goldschlager cinnamon schnapps to U.S.-based Sazerac for $550 million, as it focuses on its premium labels such as Johnnie Walker in the United States. | Video
* Company closely watching cannabis market developments (Adds CFO comments, detail on Seagram's 7)
Nov 12 Diageo Plc agreed to sell 19 brands to U.S.-based company Sazerac for $550 million, the world's largest spirits company said on Monday.
PARIS Demand in China and India powered a 10.4 percent rise in quarterly sales for France's Pernod Ricard , helping the maker of Absolut vodka and Martell cognac offset slower progress in its main U.S. market.
British spirits maker Diageo flagged a bigger than expected sales hit from currency movements on Thursday, an early indication of the potential impact of recent volatility on companies with emerging market revenues.