Diageo Gains Regulatory Approval For £630 Million Chinese Acquisition
March 22
12:23
2012
Diageo has received Chinese regulatory clearance to acquire the outstanding shares of Sichuan Shuijingfang Co for £630 million. ShuiJingFang is one of the largest super premium Chinese white spirits brand by volume in China. The company is listed on the Shanghai Stock Exchange.
Diageo made its first 43% investment in February 2007 and increased its shareholding to 49% in July 2008. It then increased its shareholding to 53% in July 2011. Since 2007, Diageo has begun distributing the ShuiJingFang portfolio across South East Asia, Korea, Australia and in the USA.
Super premium Chinese white spirits is one of the largest, fastest growing spirits segments in the world
