Diageo Buys Stake in Halico/Hanoi

on 26/01/11 at 11:06 am

Industry

Diageo PLC (DGE.LN), a premium drinks business, said Wednesday that it has entered into a strategic partnership agreement with Hanoi Liquor Joint Stock Company in Vietnam.

MAIN FACTS:

-In addition, Diageo has agreed to acquire a 23.6% stake in Halico from VinaCapital Vietnam Opportunity Fund Ltd, for GBP33 million.

-As Halico’s strategic partner, Diageo will assist Halico in enhancing its capabilities across a range of functions, including innovation, branding, supply, distribution and corporate relations.

-In return, Diageo will become a long term equity investor in Halico and its main brand Vodka Hanoi.

{Full story via WSJ}

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