Diageo to Raise Stake in Sichuan Shuijingfang to 63.1%
04 April 2019 - 2:25PM
Dow Jones News
By Adria Calatayud
Diageo PLC (DGE.LN) said Thursday that it will increase its
stake in China's Sichuan Shuijingfang Company Ltd. to 63.1% from
the current 60% after a partial tender offer didn't get the maximum
number of acceptances.
The FTSE 100-listed owner of Johnnie Walker whisky and Tanqueray
gin brands said 15.3 million shares in the Chinese company have
been tendered for acceptance. This is less than the 48.9 million
maximum number of shares subject to the tender offer.
The tender offer was aimed to increase Diageo's stake in
Shuijingfang to up to a maximum of 70%, the company said.
Diageo said it will purchase the shares that have been tendered
by Shuijingfang shareholders.
The partial tender offer, which was launched on Feb. 28, closed
on Wednesday and is expected to be settled on April 9, Diageo
said.
Last year, Diageo raised its stake in the Chinese liquor company
to 60% from 39.7%.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
April 04, 2019 08:10 ET (12:10 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Diageo (LSE:DGE)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Diageo (LSE:DGE)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
