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Guinness on Tap, Murphy's Pub, Dingle Alamy Stock Photo

Diageo considering selling off Guinness for reported $10 billion

In November, Diageo shares hit their lowest level since 2017.

DIAGEO IS CONSIDERING spinning off or selling its historic Guinness beer business, according to reports.

Bloomberg News reported today that the drinks giant is also reviewing the future of its 34% stake in Moet Hennessy, the drinks division of luxury firm LVMH.

A spinoff would mean carving out Guinness as a separate company, rather than selling it altogether. 

Diageo shares have risen by more than 4% today in London since Bloomberg reported the company’s review of its brands. 

It comes amid a testing period for Diageo boss Debra Crew, who has seen the company’s shares steadily decline under her leadership over the past year-and-a-half.

In November, Diageo shares hit their lowest level since 2017.

The company is due to deliver an earnings report early next month.

The company has already reportedly looked at the potential sale of its Pimms liqueur and Ciroc vodka brands over the past year. Ciroc used to be backed by music mogul Sean ‘Diddy’ Combs, who is facing multiple accusations of sexual assault and other forms of abuse. 

The fresh reports said people familiar with the matter said a potential spin-off or sale of Guinness is being studied among a range of possibilities.

Bloomberg reported that the Irish stout business could be valued north of $10 billion (€9.5 billion), if it looked at a possible stock market listing or gauged possible takeover interest.

Guinness has been a key area of growth for the London-listed group in recent years, with the stout becoming the UK’s most popular beer in 2022, after overtaking Carling lager.

In July, the company said strong sales of Guinness, particularly in the UK, helped to drive an 18% rise in beer sales across the company.

It came as the group revealed total sales dropped for the first time in around four years, amid weaker demand for scotch and rum.

With reporting from David Mac Redmond

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    Mute judy burke
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    Mar 8th 2022, 3:39 PM

    Is this the new swastica ?????

    208
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    Mute Brian Henoll
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    Mar 8th 2022, 4:21 PM

    @judy burke: Yep, pretty much.

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    Mute Colin Conlan
    Favourite Colin Conlan
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    Mar 8th 2022, 5:37 PM

    @judy burke: So all people that have a “z” in their name are naz1?

    13
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    Mute ProtectKyiv
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    Mar 8th 2022, 3:50 PM

    Z for Zombies. Russians are so very we.ak, won’t fi-ght for their freedom, put up with that little s**t putin for 22 years…”ohh we didn’t know what was going on”…yeah right. Why didn’t they revolt with Navalny?

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    Mute bread of heaven
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    Mar 8th 2022, 4:58 PM

    @ProtectKyiv: I’d say it’s because they see that option as better than becoming subservient to the US – like so many countries around the world are.

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    Mute Clevie Sal
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    Mar 8th 2022, 4:08 PM

    Zoro would be morto ..state of them

    53
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    Mute David Van-Standen
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    Mar 8th 2022, 4:14 PM

    Billy Gibbons of ZZ Top has issued a statement, saying they don’t support the invasion of Ukraine.

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    Mute Mike Dé Vere
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    Mar 8th 2022, 4:11 PM

    You only had to look at the face of poor Ukranian beside him to know that something was up.

    19
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    Mute RBUman1
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    Mar 8th 2022, 8:37 PM

    Actually the use of Z and other letters on Russian vehicles is just an indication of what “battle groups” they are in.
    According to the Armed Forces of Ukraine, the following symbols and corresponding meanings have been used by the Russian Armed Forces during the 2022 Russian invasion of Ukraine:
    Z: Russian forces from the Eastern Military District
    Z (enclosed in square): Russian forces from Crimea
    O: Forces from Belarus
    V: Marines
    X: Forces from Chechnya (Kadyrovtsy)
    A: Special forces, including SOBR, Alpha Group, and the Special Operations Forces

    15
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    Mute Colin Conlan
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    Mar 8th 2022, 5:06 PM

    Ucranians see letter Z as a naz1 sign? And their own nothing?
    https://azov.org.ua/
    Here I see pure unchanged DasReich wolftrap.

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    Mute Kevin Feeney
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    Mar 8th 2022, 4:40 PM

    Great film, great sound track.

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    Mute Brendan Sheridan
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    Mar 8th 2022, 7:46 PM

    They should turn it 90° from Z to N to stand for something else like NO

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    Mute Gavin Tobin
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    Mar 8th 2022, 6:35 PM

    Zed’s dead, baby. Zed’s dead.

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    Mute David Haye
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    Mar 8th 2022, 10:41 PM

    The use of the letter is to identify Russian vehicles from the ground and the air to avoid friendly fire incidents.

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    Mute Brendan Sheridan
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    Mar 8th 2022, 7:51 PM

    They should change the Z to a N to mean something different

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    Mute Simon McGunner
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    Mar 9th 2022, 9:50 PM

    It’s the new hammer & sickle not swastika. This is the hard lefts doing

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