Diageo acquires additional Halico stake

24 August, 2011

Vietnam: Global drinks giant Diageo has closed a Public Offer to acquire an additional 5.07% stake in Hanoi Liquor Joint Stock Company (“Halico”) for approximately £6.4 million. 

The Public Offer opened on July 21 2011 and closed on August 19 2011.

Diageo is now processing the clearing procedures to fully complete the transaction. Diageo has committed to purchase Halico shares at 213,600 VND per share from shareholders who participated in the Public Offer, increasing Diageo’s total stake in Halico to 30%.

In January 2011, Diageo also entered into a strategic partnership agreement with Halico.

Ho Van Hai, director of Halico, said: “We have had a very successful start to our strategic partnership with Diageo. My management team believe that Diageo’s cooperation and expertise will be highly effective for our business in Vietnam. The two teams have also built a rapport and strong working relationship. Halico and Diageo see a promising future together.”

Gilbert Ghostine, president of Diageo Asia Pacific said: “Diageo is confident that, by partnering with Halico, we both can successfully leverage Vietnamese consumers’ growing demand for branded spirits such as Vodka Hanoi.”

A statement from Diageo concluded: “In parallel and separately, Diageo will continue to develop its international premium spirits portfolio, led by Johnnie Walker, Smirnoff and Baileys, through its wholly owned subsidiary Diageo Vietnam, Limited.”

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