Diageo Denies Report Saying It Could Sell Guinness, Moët Hennessy Stake
January 27, 2025Over the weekend Diageo denied a Bloomberg report from Friday that asserted the drinks giant is in the midst of a portfolio review and considering options such as selling Guinness for more than $10 billion and either divesting or raising its current 34% stake in Moët Hennessy.
“We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy and we can confirm that we have no intention to sell either,” the company stated on Sunday.
Bloomberg cited unnamed sources familiar with the matter in reporting that Diageo could either sell its stake in Moët Hennessy—which majority owner LVMH would be obligated to buy at a 20% discount to fair market value, per the companies’ agreement—or look to acquire it in full, which it has expressed interest in doing in the past.
Late last year, LVMH chairman and CEO Bernard Arnault announced new leadership at Moët Hennessy, installing LVMH CFO Jean-Jacques Guiony as CEO of the drinks unit, and naming his son Alexandre Arnault as deputy CEO. Those appointments are effective February 1
As to Guinness, Bloomberg reported that Diageo could look to spin off the brand, which has seen an increase in interest from younger consumers lately, or sell it entirely, depending on interest from potential suitors.—Daniel Marsteller
Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
