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The Guardian - UK

Business

Kalyeena Makortoff

Diageo rules out sale of Guinness brand amid stout speculation

Guinness Diageo Moët Hennessy Debra Crew

A woman drinks a pint of Guinness inside a local pub in Dublin — Analysts had suggested that Guinness could fetch up to $10bn (£8bn) if it was sold or spun off, according to Bloomberg. Photograph: NurPhoto/Getty Images

Diageo has ruled out a sale of its famous Guinness brand, quashing speculation that the drinks giant was looking to cash-in on runaway demand demand for the fashionable Irish stout.

The FTSE 100 company issued a statement on Sunday, denying that Guinness was up for sale or that a disposal of its 34% stake in the champagne and cognac business Moët Hennessy was on the cards.

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