Diageo completes restructuring of SA operations

RNS Number : 4703H

Diageo PLC

01 December 2015

 



1 December 2015

Diageo completes restructuring of South African operations

Diageo announces that, together with Heineken N.V. (Heineken) and The Ohlthaver & List Group of Companies, the controlling shareholder of Namibia Breweries Limited ('NBL'), they have completed the restructuring of their respective joint venture operations in South Africa and Namibia. The closing of the transaction follows the fulfilment of all conditions precedent as agreed on 28 July 2015, when the intention to restructure the joint ventures was announced. Diageo has received a total net cash consideration of c. ZAR 2.5 billion (c. £117 million) for the equity and debt positions Diageo sold in Sedibeng, DHN and NBL.

ENDS

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About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, JεB, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice.

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