Diageo are expecting to receive approval to take a 53% stake in Sichuan Swellfun. According to reports the Chinese Baiju liquor producer has sold off its brands signalling that Diageo are likely to gain the regulatory clearance they require for the takeover. Diageo’s wish to raise their stake in the company from 49% to a controlling 53% has been a long standing target for the UK based drinks provider, with reports detailing alleged plans in 2008. Sichuan Swellfun’s market capitalization currently stands at CNY 10.24bn (USD 1.55bn).
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