28 October, 2005

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.

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