Diageo raises sorghum beer stakes with $36m investment

By Ben BOUCKLEY contact

- Last updated on GMT

Diageo raises sorghum beer stakes with $36m investment
Diageo has agreed to a form a 50:50 joint venture with DR Mallya to take over United National Breweries' traditional sorghum beer business in South Africa, with the UK company taking a $36m stake.

The transaction was first flagged-up last November, and is conditional on consent from the South African competition authority. Diageo said it expected it to complete in H1 2013.

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