Diageo Goes It Alone in South Africa After Dissolving Alliance
Diageo Plc said it is restructuring ventures it has in South Africa and Namibia so that the U.K. spirits company fully owns its operations in those countries.
Diageo will get about 128 million pounds ($199 million) from transactions with Heineken NV and Namibia Breweries Ltd., the London-based company said Tuesday in a statement.
“Diageo has the necessary scale to move to the next stage of growth,” Chief Executive Officer Ivan Menezes said in the statement.
Bloomberg News, edited by ESM