VIETNAM: Diageo ups stake in Halico to 45%
Diageo is raising its stake in the Vietnamese spirits producer
Diageo is set to increase its stake in Vietnam's Hanoi Liqour Joint Stock Co to 45.52% after completing a public offer.
The drinks firm said today (15 June) that it hads closed a public offer to acquire an extra 10.62% in the sprits producer for around GBP14m (US$21.8m). It expects to complete the transaction on 24 June.
It is the second time in the space of a year Diageo has upped its stake in Hanoi Liqour Joint Stock Co (Halico), owner of vodka brand Vodka Hanoi. Last August, Diageo raised its stake to 30%, as part of its strategy to expand in emerging spirits markets.
This came off the back of Diageo entering into a strategic partnership agreement with Halico in January last year.
Gilbert Ghostine, president of Diageo Asia Pacific, said: “We are pleased to further participate in Halico’s growth potential and success by increasing our equity investment, which is an expression of our long term commitment both to Halico and to Vietnam.”
Ho Van Hai, Halico's director, said that the company is lookng forward to "long term co-operation between Diageo and Halico under the strategic partnership agreement and the positive effects it will continue to have on our business.”
Hats off the Sunday Telegraph for breaking the story today (9 December) that Diageo has been sniffing around Beam Inc....
- It isn't just men who like beer - Comment
- What do US wholesalers think of spirits trends?
- How the craft economy is loosening alcohol laws
- Why sports drinks fail to ride the Olympic wave
- How soft drinks can exploit alcohol's loss
- Diageo merges US, Canada spirits units
- Johnnie Walker's Bourbon bent "coincidental"
- Diageo investment paying off for Captain Morgan
- Diageo job cut figures "likely overstated"
- "We're not complacent about Brexit" - Diageo
- Global gin insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends