Diageo completes deal to buy Chinese white spirits company

26 April, 2012

Diageo has announced the completion of the mandatory tender offer for the outstanding shares in Chinese white spirits company, Sichuan Shuijingfang

The MTO was required by Chinese takeover regulations following the approval of Diageo taking control of Sichuan Chengdu Quanxing Group Company Ltd from Chengdu Yingsheng Investment Holding Co.

Gilbert Ghostine, president of Diageo Asia Pacific said: “This marks the end of a journey that started over two years ago when our partners agreed that we could move to take control of Quanxing and increase our participation in ShuiJingFang.

“It represents a milestone in the development of our ambition to play a significant role in Chinese white spirits, the most valuable beverage alcohol category in China. We could not have come this far without the support of the Chinese Government and the continued strong support of our Chinese partners,” said Ghostine.





Comment

Dominic Roskrow

How gin made the headlines

When I first arrived here I was the whisky man who was making gin as a sideline,” says Daniel Szor, founder and owner of the Cotswolds Distillery, which lies close to Banbury in the no-man’s land between the west, the south and the middle of England.

Click for more »

Events

Facebook

Twitter