Diageo has written down the value of baijiu maker Shuijingfang, of which it has a 39.7% stake, by GBP264m (US$446.2m) as sales of the white spirit have fallen sharply in the face of China’s anti-extravagance measures.
CHINA: Diageo writes down value of Shuijingfang by GBP264m
Diageo has written down the value of baijiu maker Shuijingfang, of which it has a 39.7% stake, by GBP264m (US$446.2m) as sales of the white spirit have fallen sharply in the face of China's anti-extravagance measures.
July 31, 2014