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Old 06-10-2011, 10:51 AM   #1
Edward Hamilton
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Default Diageo to take controlling stake in Zacapa rum

Source: Drinks International
09 June, 2011

Global drinks giant Diageo has reached an agreement with Industrias Licoreras de Guatemala to take a 50% controlling stake in the Guatemalan Zacapa rum brand.
In 2008 Diageo entered into a three year distribution agreement for Zacapa rum with the option to take an equity stake in Zacapa at the end of the term.

A statement from Diageo said: "We have now reached an agreement and, subject to the usual closing conditions, Diageo will take a 50% controlling stake in Zacapa.

"No details of the transaction are being released but we can confirm that it meets Diageo's investment criterion and is economic profit positive in year three."

Note: I'm confused as to when 50% became controlling interest, but I've been wrong before.
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Old 06-10-2011, 11:59 AM   #2
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50% of the companys shares plus one share would be "controlling", but also close enough to 50% as to make no difference.
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Old 06-10-2011, 12:52 PM   #3
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Probably the others shareholders have less voting rights.
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Old 06-10-2011, 05:23 PM   #4
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But most important, what about the rum? Zacapa makes some good stuff. Hopefully this does not go down like Zaya.
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