Is Diageo about to be bought over? Brazil’s richest man in talks with Guinness and Smirnoff owner
Brazil’s richest man, Jorge Paulo Lemann, is reported to be considering a takeover bid for Diageo – owner of brands such as Smirnoff, Guinness and Johnnie Walker.
He is believed to be in the early stages of mulling an acquisition alongside other unknown executives, according to Brazilian magazine Veja.
Lemann founded private equity firm 3G Capital and owns a stake in rival drinks-giant Anheuser-Busch InBev. In 2010, he bought Burger King from Diageo and H.J. Heinz Co in 2013 in partnership with US billionaire Warren Buffett.
On the back of the reports, Diageo – which recorded a 0.7 per cent fall in sales for the last quarter – saw its share price soar to the highest levels in almost seven years. It currently has a market value of about £44bn.
Neither Diageo nor Lemann has commented on the reports.