Diageo ups Vietnam vodka stake
Drinks giant Diageo said it had raised its stake in Vietnam's Hanoi Liquor, the country's leading vodka supplier.
Drinks giant Diageo said it had raised its stake in Vietnam's Hanoi Liquor, the country's leading vodka supplier.
The company has spent £14m, taking its ownership of Hanoi, Vietnam's leading domestic branded spirits producer, up to 45.5%.
Diageo said that the move demonstrated its commitment to work with Halico in the rapidly growing Vietnamese branded spirits sector.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"As Halico's strategic partner, Diageo will continue to assist Halico in enhancing its capabilities across a range of functions, including innovation, branding, supply and distribution," the firm said.
Diageo would remain a long term equity investor in Halico, it added.
It will independently continue to develop its international premium spirits portfolio in Vietnam, including Johnnie Walker, Smirnoff and Baileys, through its wholly owned subsidiary Diageo Vietnam.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published