Diageo increases stake in Chinese drinks firm

The drinks giant is Scotlands biggest distiller. Picture: Diageo
The drinks giant is Scotlands biggest distiller. Picture: Diageo
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Diageo has proposed to increase its stake in Chinese drinks company Sichuan Shuijingfang to 60 per cent, up from about 40 per cent.

The Johnnie Walker owner said the proposal does not represent a takeover bid, and does not create an obligation for it to put in an offer for the Shanghai-listed firm. The proposal is now under discussion, and Diageo said “there can be no certainty” that any formal offer will be made.