Diageo Gets Approval for $358M China Deal

Diageo received approval from Chinese authorities on Tuesday to buy the remaining 47 percent stake it does not already own in Sichuan Chengdu Shuijingfang for 233 million pounds ($358 million). The maker of Johnnie Walker whiskey and Guinness is looking to buy the stake from its current Chinese partners in an effort to expand its footprint in one of the world’s largest consumer markets. (Fox Business)