Diageo in $2.1 Billion Deal for Turkish Liquor Maker
February 24, 2011
According to The New York Times, Diageo will buy Mey Icki, a Turkish liquor company, for $2.1 billion, in a deal that will expand the British spirits maker’s global reach. The move is the first multibillion-dollar deal by Diageo in more than a decade, and is also its latest step to push into developing markets in search of new areas for growth. Diageo, which is based in London, said the acquisition would increase its earnings per share by about 1 percent in the first year. The company plans to finance the takeover through cash and debt.