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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Sichuan Swellfun Co., Ltd.    600779   CNE000000NH4

End-of-day quote. End-of-day quote  - 05/05
14 CNY   +0.72%
2015 SICHUAN SWELLFU : Swellfun Turned Profitable in H1
2013 Diageo expands in China with Shuijingfang deal
2013 Diageo buys remainder of Chinese distiller
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Diageo buys remainder of Chinese distiller

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07/23/2013 | 08:23am CEST

Global drinks firm Diageo (>> Diageo plc) on Tuesday said it had received approval from Chinese authorities to become the sole shareholder in Sichuan Chengdu Shuijingfang Group Company (SJF Holdco), the owner of white spirits company ShuiJingFang (>> Sichuan Swellfun Co., Ltd.).

Global drinks firm Diageo (>> Diageo plc) on Tuesday said it had received approval from Chinese authorities to become the sole shareholder in Sichuan Chengdu Shuijingfang Group Company (SJF Holdco), the owner of white spirits company ShuiJingFang (>> Sichuan Swellfun Co., Ltd.).

Diageo said it would acquire the remaining 47 percent stake in SJF Holdco owned by its Chinese partners for 233 million pounds. As a result, SJF HoldCo will be converted from a joint venture into a wholly foreign-owned enterprise owned by Diageo.

On completion, Diageo's indirect interest in Shanghai-listed Shuijingfang, one of the best known producers of China's 'Bai Jiu' spirit, will rise to 39.71 percent from 21.05 percent, it said.

(Reporting by Rhys Jones, Editing by Brenda Goh)

Stocks treated in this article : Diageo plc, Sichuan Swellfun Co., Ltd.
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