Overview
- Bloomberg reported that Diageo has engaged Goldman Sachs and UBS to evaluate its Greater China operations.
- The reported review covers the company’s 63% holding in Sichuan Swellfun and other China assets, with Diageo also owning one distillery in the country.
- Diageo has tested preliminary interest from Chinese industry peers and private-equity firms, according to the report.
- The company declined to comment when asked about the reported process.
- Company disclosures show Greater China volumes rose 8.4% as net sales fell 9% organically last year, alongside portfolio shifts and recent disposals including a $2.3bn Kenya sale to Asahi.