Round-Up - Diageo's Purchase of Mey Içki
Diageo has lined up the widely-expected acquisition of Mey Içki in Turkey. See how the story unfolded.
Diageo has signed a deal to acquire Turkey's leading spirits producer, Mey Içki, in a US$2.1bn deal that will enhance the Smirnoff maker's presence in emerging markets.
Diageo's deal for Mey Içki is set to mark a turnaround for the drinks giant's fortunes in Turkey's promising spirits market.
The likes of Diageo and Pernod Ricard are hopeful that the end is nigh for the long-running tax dispute with Turkish authorities that has severely hampered their access to the country's promising alcoholic drinks sector.
Turkish spirits group Mey Içki has filed a formal application for a listing on Turkey's stock exchange.
Speculation has started circulating this week that Diageo may be looking to snap up Turkish spirits company Mey Içki from private equity firm TPG Capital. While Diageo won't be drawn on the rumours, and TPG Capital were unavailable for comment all day today, it's not hard to work out where these rumours stem from.
Diageo has declined to comment on speculation claiming it is in talks with TPG Capital about Turkish spirits firm Mey Içki.
Diageo could close its operations in Turkey if it is forced to pay up in a tax row with the country’s government, just-drinks understands.
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