Diageo has refused to be drawn on speculation that it will decide the fate of its Guinness brewery in Dublin this week.

Reports out of Ireland yesterday (5 May) have suggested that the St James's Gate brewery could be put up for sale later this week. Citing an unnamed source at the company, The Irish Examiner said that an announcement can be expected by the end of this week.

When contacted by just-drinks today, however, a spokesperson for Diageo said: "We don't comment on speculation." The spokesperson noted that the company launched its 'Beer Investment Assessment' of its Irish operations in June last year. "The process remains ongoing, and we will make an announcement in due course," the spokesperson added.

When launching the review last year, Diageo said that "any suggestions as to potential outcomes of the assessment are speculation at this stage".

The St James's Gate site, in the centre of Dublin, could be worth as much as EUR3bn (US$4.66bn), Irish reports have suggested. Diageo has seen sales of Guinness in Ireland and the UK slow in recent years, despite moving all production back to Ireland, leading to emphasis being placed on the brand's geographical heritage in the markets.