Diageo Proposes to Increase Stake in Sichuan Shuijingfang
June 25 2018 - 9:27AM
Dow Jones News
By Dimitrios Kontos
Diageo PLC (DGE.LN) said Monday that it has approached Sichuan
Shuijingfang Company Limited with a proposal for a partial tender
offer to increase its equity stake to 60% in the China-based
company.
The offer price is CNY62 ($9.5) per share, said the FTSE
100-listed drinks company--which currently holds an approximate
39.71% interest in the Shanghai-listed alcoholic-products
manufacturer.
Diageo said the outlined proposal doesn't constitute an offer
and doesn't create an obligation to make an offer. The proposal is
still under discussion and there can be no certainty that any offer
will be made, Diageo said.
London-listed shares at 1250 GMT were down 2% at 2691 pence.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
June 25, 2018 09:12 ET (13:12 GMT)
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