DIAGEO yesterday announced that it has received regulatory clearance for the £1.3bn acquisition of Mey Içki, the leading spirits company in Turkey.
The Turkish Competition Authority clearance is conditional upon the disposal of the Mey Içki brands Hare liqueur and Maestro – deals that Diageo is confident will be completed within the current financial year.
Diageo, whose brands include Guinness, originally announced its intention to acquire Mey Içki in February this year as it sought to strengthen its position in the fast-growing Turkish spirits market.
Mey Içki is the leading spirits producer and distributor in Turkey with brands including Yeni Raki.
Meanwhile Diageo said that it has successfully closed a public offer for the acquisition and is committed to purchase Halico shares at £6.21 per share.