January 26/London/London Stock Exchange Aggregated Regulatory News Service (ARNS) -- Diageo entered into a strategic partnership agreement with Hanoi Liquor Joint Stock Company (Halico) in Vietnam. In addition, Diageo has agreed to acquire a 23.6% stake in Halico from VinaCapital Vietnam Opportunity Fund Limited, for approximately 33 million pounds.
Halico is among the largest domestic branded spirits producers in Vietnam. The strategic partnership agreement with Halico represents a significant venture by Diageo into the fast-growing Vietnamese branded spirits sector. A Diageo release noted, "Halico is well-positioned to benefit from this growth given its significant distribution scale and recent investment in a new state-of-the-art production facility. As Halico's strategic partner, Diageo will assist Halico in enhancing its capabilities across a range of functions, including innovation, branding, supply, distribution and corporate relations. In return, Diageo will become a long term equity investor in Halico and its main brand Vodka Hanoi."