CHINA: Diageo not in talks to buy winemaker
UK drinks giant Diageo is not in talks to buy Chinese winemaker Sichuan Quanxing.
Reports in China over the weekend suggested that Diageo was looking to snap up the wine producer.
However, just-drinks understands that Diageo has not opened discussions with the company, which is based in the central province of Sichuan. Sichuan Quanxing produces a stable of beverage alcohol products distilled from rice, as well as Hemingshan Plum Wine.
A Diageo spokesperson in London refused to comment on the reports. "We are always interested in developing our business relationships in China but we do not comment on individual rumours."
Last week, Diageo was linked with a bid to buy a stake in India's Sula Vineyards. The spokesperson also refused to be drawn on those reports.
Diageo is looking to boost its presence in the emerging markets of China and India, as well as gain a stronger foothold in Brazil and Russia.
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