June 5 - Diageo announces that it has received regulatory approval from the US Federal Trade Commission in respect of the agreement with the Nolet family over its 50% equity interest in a newly formed company which will own the perpetual global rights to sell, market and distribute Ketel One super premium vodka.
The deal was announced on 5 February 2008. The transaction is expected to close on 9 June 2008. Diageo will pay $900 million for its equity stake.
About Diageo
Diageo is the world’s leading premium drinks business. With its global vision, and local marketing focus, Diageo brings to consumers an outstanding collection of beverage alcohol brands across the spirits, wine and beer categories including Smirnoff, Guinness, Johnnie Walker, Baileys, J&B, Cuervo, Captain Morgan and Tanqueray, and Beaulieu Vineyard and Sterling Vineyards wines. Diageo trades in some 180 countries around the world and is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).