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US: Diageo gets approval for Malibu sale

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The world's largest spirits company Diageo PLC announced today that it has been given the green light to sell its Malibu brand and business to rival Allied Domecq by the US Federal Trade Commission. The transaction, which was announced on 27 February 2002 is expected to close by Wednesday 22 May 2002. Diageo will receive £560m.


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