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Diageo Says US Requests More Information on Joint Venture Agreement with Dutch Vodka Maker |
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Thursday, 27 March 2008 |
LONDON: US regulators have requested more information about Diageo PLC's proposed joint distribution venture with Dutch vodka maker Ketel One, the British beverage company said Wednesday.
Diageo, the world's largest producer and distributor of alcoholic drinks, said in February that it would pay $900 million in a deal with the Nolet family for "perpetual exclusive global rights to sell, market and distribute" Ketel One vodka in a 50/50 joint venture.
Diageo said the Federal Trade Commission had asked for more information under the US Hart-Scott-Rodino Antitrust Improvements Act.
Once Diageo has complied with that request, the waiting period will extend for no more than 30 days.
Diageo makes brands such as Johnnie Walker whisky, Smirnoff vodka, Captain Morgan rum and Guinness stout.
Diageo shares advanced 0.6 percent to 1,033 pence ($20.70) in trading Wednesday in London.
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