Business Activities News
- Diageo to buy 43% of Swellfun's parent
Date: 13-Dec-2006 Sources: (Shenzhen Daily)
DIAGEO Plc., the world's top alcoholic drinks group, has agreed to buy 43 percent of the parent of Chinese spirits maker Sichuan Quanxing Co. Ltd., the Chinese firm said in a statement yesterday.
Diageo Highlands Holding B.V. on Monday signed an agreement to purchase the shares in Sichuan Quanxing Group, also known as Swellfun, from its main shareholder, the statement said. The parent owns 39.23 percent in the listed company, in which Diageo indirectly will own 16.9 percent. It did not provide financial details of the transaction.
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