UK: Diageo is waiting for US$35 million from its Seychelles subsidiary

Diageo US’subsidiary Seychelles Breweries Ltd has a debt of US$35m towards its parent group. The debt was engendered by the severe shortage of foreign exchange in the Seychelles, according to Reuters.

“The company historically has not been able to pay Diageo for the goods and materials we supply it and that’s a big concern for us.” Nicholas Blazquez, the Diageo’s managing director for Africa said in a statement.

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .