Diageo lining up Gleneagles sale - report
Diageo is closing in on a sale of its Gleneagles hotel, according to a Financial Times report.
The deal, for an estimated GBP200m (US$300m), could close as early as next week, the report said without naming any sources. The five-star Scottish resort, which has three golf courses, hosted last year's Ryder Cup.
The FT said the sale could alleviate pressure on Diageo CEO Ivan Menezes after recent under performance by the company and rumours of a takeover by private-equity group 3G.
In February, Diageo admitted it had received "numerous" enquiries about the sale of its Gleneagles Hotel as reports suggested the famous resort was to be put on the market.
Despite seeing its global volumes as well as share stagnate in 2015, Diageo comfortably remained the world’s leading spirits player....
A major focus of the company is on drinking based on occasion, rather than age group, and creating the best experience in drinks....
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