US: Diageo gets approval for Malibu sale
The world's largest spirits company Diageo PLC announced today that it has been given the green light to sell its Malibu brand and business to rival Allied Domecq by the US Federal Trade Commission.
The transaction, which was announced on 27 February 2002 is expected to close by Wednesday 22 May 2002. Diageo will receive £560m.
In addition, Diageo will receive $75m from Vivendi Universal in connection with completing the transaction and the dismissal of the litigation which Destileria Serralles and Allied Domecq have been pursuing with regard to Captain Morgan.
Diageo will also sell its Californian-based Mumm Cuvee Napa sparkling wine business to Allied Domecq for £27.5m.
Diageo is looking to change the image of one of its flagship brands in Colombia....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Diageo has completed another share buyback transaction....
Fortune Brands has started making moves to acquire in the European drinks industry, according to press reports....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
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