Diageo buys 23% stake in Vietnam spirits producer Halico

The world's largest spirits company buys a 23.6% stake in Hanoi Liquor Joint Stock Company (Halico) from VinaCapital's Vietnam Opportunity Fund for $51.6 million in cash.

Diageo, the world's largest spirits company, is boosting its presence in Vietnam with a decision to acquire a 23.6% stake in Hanoi Liquor Joint Stock Company Halico from VinaCapital Vietnam Opportunity Fund VOF for $51.6 million in cash.

The price represents an exit multiple of 5.3 times the price VOF paid in December 2006, or an internal rate of return of 67.4%, proving that it is possible for private equity firms to exit their investments in Vietnam. This...

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