Business Services Industry
Britain's Diageo Plans to Sell Malibu Brand to Help Secure Seagram Deal.
Knight Ridder/Tribune Business News, October, 2001
By Brian O'Connor, Daily Mail, London Knight Ridder/Tribune Business News
Oct. 25--Diageo chief executive Paul Walsh is preparing to ditch one of his best brands to save the UKpound 5.8 billion acquisition of Seagram's wines and spirits brands. Flavoured rum Malibu is likely to be sold to appease US watchdog the Federal Trade Commission.
Brokers think all of Malibu could fetch between UKpound 400 million and UKpound 750 million. Walsh must decide whether to sell the global brand or just the rights in the US, where the problem lies. He is likely to begin talks with four potential buyers, and hopes to complete an auction within four weeks.
The FTC found that, if Guinness and Johnnie Walker giant Diageo acquired Captain Morgan rum from...
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