The Spirits-maker recently saw an acquisition of the Chinese sovereign wealth fund CIC worth $365m for a stake of 1.1% making it the company’s ninth biggest shareholder. This move emphasizes the decision of the SWF to expand its investments.
From the FT:
CIC, which has been acutely conscious of the political impact of Chinese funds arriving in unfamiliar markets, says it wants its investments to be passive, balanced and diversified.
London-based beverage analysts said the move was a sign of the fund’s confidence that Diageo would play a significant role in the Chinese economy in the future.
The entire news HERE.