Diageo eyes Asian listing

Diageo may list its shares in China in the future and continues to target acquisitions in emerging markets.

Speaking on Bloomberg Television in Singapore, chief executive Paul Walsh said that while Diageo’s overriding priority is to grow its existing stable of brands, “if we see an opportunity, we will acquire.”

He added that the company is open to all options regarding an Asian listing as markets in the region continue to grow.

Walsh reiterated his confidence that Diageo’s business will continue to grow even if the world enters into a “double dip” recession, pointing out that the US market is continuing to expand despite the financial troubles in the country.

Last month Diageo reported a 5% increase in full-year profits as sales of brands such as Johnnie Walker in emerging markets helped negate the slides in Europe.

Diageo’s hunger to make headway in emerging markets has been clear all year, with the London-based company completing the acquisition of Turkish firm Mey Içki, the owner of Yeni Raki, last month.

Elsewhere the company has admitted interest in buying José Cuervo, the world’s biggest Tequila brand, should the owning family put it up for sale.