Chasing Value: Chinese buying into Diageo

Filed under: Deals, China, Diageo plc (DEO), Money and Finance Today, Chasing Value, Stocks to Buy, Best Stocks for 2009

It was announced today that China's sovereign wealth fund has acquired 1.1% of the worlds largest alcoholic beverages maker Diageo PLC (NYSE: DEO), a deal valued at $365 million.

• "The move by China Investment Corp, which manages $200bn of the country's $2,132bn in foreign exchange reserves, makes the fund the UK-based groups' ninth-largest investor."

It was only last week I wrote about Diageo, stating: "the kind of stock you might pick if you only owned one stock in the universe"

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Chasing Value: Chinese buying into Diageo originally appeared on BloggingStocks on Tue, 21 Jul 2009 14:00:00 EST. Please see our terms for use of feeds.

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