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.

The company has spent £14m, taking its ownership of Hanoi, Vietnam's leading domestic branded spirits producer, up to 45.5%.

Article continues below

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.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

"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.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.