August 25/Istanbul/Associated Press -- Diageo has received the necessary regulatory clearances for the £1.3 billion acquisition of Turkish spirits company Mey Icki. The British spirits major revealed its intention to acquire Mey Icki in February this year to strengthen its position in the Turkish spirits market.
Diageo said the Turkish Competition Authority clearance is conditional upon the subsequent disposal of the Mey Icki brands, Hare liqueur and Maestro gin, and expects these disposals to be completed within the current financial year.