UK: Diageo to get final Pillsbury payment of $273m
The drinks giant Diageo said yesterday that it will receive a final cash payment of US$273m for the sale of the Pillsbury food business to General Mills. Under terms of the October 2001 agreement Diageo got contingent value rights (CVR) worth up to US$395m, depending on the average market price of General Mills common shares for the 20 trading days preceding April 30, 2003, and the number of General Mills shares Diageo continued to hold as of that date.
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