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China Investment Corp buy large stake in Diageo

The China Investment Corporation (CIC), the nations sovereign wealth fund, has purchased a 1.1% stake in Diageo plc (LSE: DGE, NYSE: DEO), the largest multinational beer, wine and spirits company in the world, worth GBP 221 million or about USD 365 million.
This makes CIC the ninth largest investor of the UK-based company.

The investment is a sign that Diageo are expected to play a leading role in the development of the Chinese Wines & Spirits sector which Diageo have predicted would catch up with the US to become an important market of the company by 2021.

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Thursday, January 18, 3:54 pm

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