Diageo Plc (DEO: Quote,DGE.L) Monday said it will acquire 50 percent interest in a joint venture, co-owned by Vijay Mallya, for $36 million, or approximately 23 million pounds.
On November 9, 2012, Djageo and Mallya had entered into a memorandum of understanding, to form a 50:50 joint venture, which would own United National Breweries’ traditional sorghum beer business in South Africa.
The transaction is conditional on consent from the South African competition authority and is expected to complete in the first half of this year.
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by RTT Staff Writer
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