TIDMDGE
RNS Number : 9139M
Diageo PLC
24 August 2011
24 August 2011
Diageo completes acquisition of Mey Icki
Diageo has today announced that having received the necessary
regulatory clearances it has completed the acquisition of Mey Icki,
the leading spirits company in Turkey. The Turkish Competition
Authority clearance is conditional upon the subsequent disposal of
the Mey Icki brands Hare liqueur and Maestro gin. Diageo
anticipates that these disposals will be completed within the
current financial year. Mey Icki will be fully consolidated and
transforms Diageo's existing position in this fast growing spirits
market. Diageo announced its intention to acquire Mey Icki on 21st
February 2011. The enterprise value for the acquisition is $2.1
billion (GBP1.3 billion).
-ENDS-
Investor enquiries:
Nick Temperley
+44 (0) 20 8978 4223
Sarah Paul
+44 (0) 20 8978 4326
investor.relations@diageo.com
Media enquiries:
Stephen Doherty
+44 (0) 20 8978 2528
Rowan Pearman
+44 (0) 20 8978 4751
media.comms@diageo.com
Editor notes
Diageo is the world's leading premium drinks business with an
outstanding collection of beverage alcohol brands across spirits,
beer and wine. These brands include Johnnie Walker, Crown Royal, J
B, Buchanan's, Windsor and Bushmills whiskies, Smirnoff, Ciroc and
Ketel One vodkas, Baileys, Captain Morgan, Jose Cuervo, Tanqueray
and Guinness.
Diageo is a global company, with its products sold in more than
180 countries around the world. The company is listed on both the
New York Stock Exchange (DEO) and the London Stock Exchange (DGE).
For more information about Diageo, its people, brands, and
performance, visit us at Diageo.com. For our global resource that
promotes responsible drinking through the sharing of best practice
tools, information and initiatives, visit DRINKiQ.com.
Celebrating life, every day, everywhere.
Forward-looking statements
This document contains 'forward-looking statements'. These
statements can be identified by the fact that they do not relate
only to historical or current facts. In particular, forward-looking
statements include all statements that express forecasts,
expectations, plans, outlook and projections with respect to future
matters, including overall market trends, the availability or cost
of financing to Diageo, anticipated cost savings or synergies, the
completion of Diageo's strategic transactions and general economic
conditions. By their nature, forward-looking statements involve
risk and uncertainty because they relate to events and depend on
circumstances that will occur in the future. There are a number of
factors that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking
statements, including factors that are outside Diageo's control.
All oral and written forward-looking statements made on or after
the date of this document and attributable to Diageo are expressly
qualified in their entirety by the 'risk factors' contained in
Diageo's annual report on Form 20-F for the year ended 30 June 2010
filed with the US Securities and Exchange Commission (SEC). Any
forward-looking statements made by or on behalf of Diageo speak
only as of the date they are made. Diageo does not undertake to
update forward-looking statements to reflect any changes in
Diageo's expectations or any changes in events, conditions or
circumstances on which any such statement is based. The reader
should, however, consult any additional disclosures that Diageo may
make in documents it publishes and/or files with the SEC. All
readers, wherever located, should take note of these disclosures.
The information in this announcement does not constitute an offer
to sell or an invitation to buy shares in Diageo plc or any
invitation or inducement to engage in any other investment
activities. Past performance cannot be relied upon as a guide to
future performance.
This information is provided by RNS
The company news service from the London Stock Exchange
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