Diageo PLC Approval to become sole shareholder in SJF Holdco (9073J)
23 Luglio 2013 - 8:01AM
UK Regulatory
TIDMDGE
RNS Number : 9073J
Diageo PLC
23 July 2013
23 July 2013
Diageo receives approval to become sole shareholder in SJF
Holdco, taking its holding in the Shanghai-listed company to
39.7%
Diageo has received approval from the Chinese authorities to
acquire the remaining 47% stake in Sichuan Chengdu Shuijingfang
Group Company Ltd. (SJF Holdco) (formerly Sichuan Chengdu Quanxing
Group Company Ltd) owned by its Chinese partners. As a result, SJF
HoldCo will be converted from a joint venture into a wholly
foreign-owned enterprise owned by Diageo. On completion, Diageo's
indirect interest in the Shanghai-listed company, Sichuan
Shuijingfang Co., Ltd. (Shuijingfang), will rise from 21.05% to
39.71%. The total consideration for the 47% of SJF Holdco will be
approximately GBP233 million.
Gilbert Ghostine, President of Diageo Asia Pacific, said:
"I am delighted to have gained approval from the Chinese
authorities to acquire the rest of our Chinese partners' interest
in SJF HoldCo. This is a milestone in the journey we began with our
partners six years ago. As the controlling shareholder in
Shuijingfang, Diageo will continue to work with the senior Chinese
management to build Shuijingfang into the leading international Bai
Jiu brand. I have every confidence in the long-term future of the
Bai Jiu category in China."
Vermilion Partners acted as transaction adviser to Diageo.
Haiwen acted as legal adviser to Diageo on the transaction. HSBC
acted as partner bank for FX and Settlement.
ENDS
For further information
Media relations:
Rowan Pearman +44 (0)208 978 4751
Jessica Rouleau +44 (0)208 978 4764
press.office@diageo.com
Investor relations:
Catherine James +44 (0)7803 854550
Pier Falcione +44 (0) 208 978 4838
investor.relations@diageo.com
About Diageo
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, Windsor, Buchanan's and Bushmills whiskies, Smirnoff, Cîroc and
Ketel One vodkas, Baileys, Captain Morgan, 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 www.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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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