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.
- The end is nigh for Global Travel Retail - Comment
- Five ways small brands can beat big players
- Interview, Bulldog Gin founder Anshuman Vohra
- Pernod Ricard's Q1 results - Preview
- Pernod Ricard Q1 2017 results by region, brand
- Diageo most at risk to Thai alcohol ban - analyst
- Constellation sells Canadian wine unit for US$761m
- Jobs at new India hub won't affect staff - Diageo
- Stumbling UK Pound prompts Conviviality price hike
- Pernod Ricard cheers US move to ease Cuban limits
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020