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Diageo eyes $2.5bn bid for Turkish Mey

first_imgSunday 20 February 2011 11:31 pm whatsapp Show Comments ▼ DIAGEO is set to announce the acquisition of Turkish spirits firm Mey Içki Sanayi ve Ticaret for a staggering $2.5bn (£1.54bn).Diageo could finalise the deal as soon as this morning, according to the Wall Street Journal.Mey, owned by US firm TPG, is among the largest alcohol producers in Turkey and controls 80 per cent of the market for Turkish national drink raki. Diageo is being advised by UBS. TPG is being advised by JP Morgan and Goldman Sachs. TPG had previously considered an initial public offering for the firm.Diageo last month admitted European sales are weakening and that it is pinning its growth hopes on drinkers in emerging markets such as Turkey. KCS-content Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Diageo eyes $2.5bn bid for Turkish Mey Tags: NULLlast_img read more