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Diageo to buy 50% stake in Mallya JV

Following an agreement made in November last year that Diageo and Dr Mallya would form a 50:50 joint venture company, which would own United National Breweries’ traditional sorghum beer business in South Africa, Diageo has announced it will acquire a 50% interest in that business. A company affiliated to Dr Mallya will hold the remaining 50%. Diageo's US$36 million (approx £23m) aquisition is expected to complete in the first half of this year.

30 January 2013 - Felicity Murray