In November, Diageo shares hit their lowest level since 2017
Diageo is considering spinning off or selling its historic Guinness beer business, according to reports.
Bloomberg News reported on Friday that the drinks giant is also reviewing the future of its 34 per cent stake in Moet Hennessy, the drinks division of luxury firm LVMH. It comes amid a testing period for Diageo boss Debra Crew, who has seen the company’s shares steadily decline under her leadership over the past year-and-a-half.The company has already reportedly looked at the potential sale of its Pimms liqueur and Ciroc vodka brands over the past year.
The fresh reports said people familiar with the matter said a potential spin-off or sale of Guinness is being studied among a range of possibilities. Bloomberg reported that the Irish stout business could be valued north of $10 billion , if it looked at a possible stock market listing or gauged possible takeover interest.It came as the group revealed total sales dropped for the first time in around four years, amid weaker demand for scotch and rum.Join the Irish Mirror’s breaking news service on WhatsApp. Click this link to receive breaking news and the latest headlines direct to your phone.
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Diageo Considers Selling Guinness as Sales CoolDrinks giant Diageo is exploring a potential sale or spin-off of its iconic Guinness brand amidst a slowdown in sales and a review of its overall business. The company, facing pressure from investors after a recent profit warning, is also looking to divest other underperforming assets like Ciroc vodka. Furthermore, Diageo's 34% stake in Moet Hennessy is under review, with options including deepening its ownership or exiting the joint venture.
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