Round-Up - Diageo's Purchase of Mey Içki
Diageo has lined up the widely-expected acquisition of Mey Içki in Turkey. See how the story unfolded.
Diageo has signed a deal to acquire Turkey's leading spirits producer, Mey Içki, in a US$2.1bn deal that will enhance the Smirnoff maker's presence in emerging markets.
Diageo's deal for Mey Içki is set to mark a turnaround for the drinks giant's fortunes in Turkey's promising spirits market.
The likes of Diageo and Pernod Ricard are hopeful that the end is nigh for the long-running tax dispute with Turkish authorities that has severely hampered their access to the country's promising alcoholic drinks sector.
Turkish spirits group Mey Içki has filed a formal application for a listing on Turkey's stock exchange.
Speculation has started circulating this week that Diageo may be looking to snap up Turkish spirits company Mey Içki from private equity firm TPG Capital. While Diageo won't be drawn on the rumours, and TPG Capital were unavailable for comment all day today, it's not hard to work out where these rumours stem from.
Diageo has declined to comment on speculation claiming it is in talks with TPG Capital about Turkish spirits firm Mey Içki.
Diageo could close its operations in Turkey if it is forced to pay up in a tax row with the country’s government, just-drinks understands.
- Interview Berry Bros & Rudd CEO Dan Jago - Part I
- The threat of excess choice in beer is over-stated
- Key trends for the beer category in 2017 - Focus
- Key trends for the spirits sector in 2017 - Focus
- Signs of life in Japan's beer market - Comment
- Pernod Ricard's Method and Madness Irish whiskey
- Premium to counter mainstream in gin - research
- Bacardi lines up Canadian bottling plant closure
- Pernod unveils new St Patrick's Day Jameson bottle
- Wm Grant names Victor Jerez business director
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global gin insights - market forecasts, product innovation and consumer trends