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Diageo lining up Gleneagles sale - report

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Diageo is closing in on a sale of its Gleneagles hotel, according to a Financial Times report.

The deal, for an estimated GBP200m (US$300m), could close as early as next week, the report said without naming any sources. The five-star Scottish resort, which has three golf courses, hosted last year's Ryder Cup.

The FT said the sale could alleviate pressure on Diageo CEO Ivan Menezes after recent under performance by the company and rumours of a takeover by private-equity group 3G.

Analysis - Diageo takeover unlikely as 3G rumours swirl

In February, Diageo admitted it had received "numerous" enquiries about the sale of its Gleneagles Hotel as reports suggested the famous resort was to be put on the market.


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