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CASTLE MALTING NEWS in partnership with www.e-malt.com Portuguese
27 October, 2006



Brewing news New Zealand: Diageo applied to the Australian Competition and Consumer Commission for clearance to acquire Independent Liquor

The world's biggest drinks company, Diageo, has applied to the Australian Competition and Consumer Commission (ACCC) for clearance to buy the late Michael Erceg's billion-dollar alcopop empire, Independent Liquor, the New Zealand press published October 25.

Ailish Hanley, communications manager at Diageo Australia, said Diageo had formally applied to the ACCC for clearance.

"At this point, we are still investigating this opportunity and an application to the ACCC is just one part of the process," Ms Hanley said.

Diageo's brands include Smirnoff, Guinness, Johnnie Walker, Baileys, J&B, Cuervo, Captain Morgan and Tanqueray gin.

Foster's Group, Coca-Cola Amatil and private equity firms Pacific Equity Partners and Nikko Principal Investments are also believed to have been put on a shortlist for the sale.

The Diageo announcement came the same day the New Zealand Commerce Commission published its full reasons for giving brewer Lion Nathan clearance to buy Independent.

The commission said it cleared the proposed acquisition because of the strength of existing competitors and their ability to increase supply to the relevant markets.

Though the commission recognised that Lion would have "enhanced economies of scope" and a competitive advantage if it bought Independent, the commission did not believe that would act as a barrier to other companies expanding.

It said rival brewer DB would continue to be a strong competitor in the beer market after any acquisition.

Competition in the spirits market was mainly between international brands, which would also continue.

Lion Nathan spokeswoman Liz Read said October 24 that Lion had always said it would look at Independent if it came up for sale, but no decision to buy had been made.

At least one analyst said the deal would make the New Zealand beer market an effective duopoly between Lion and DB, with consumers paying in higher beer prices.

Independent Liquor is an innovative manufacturer and distributor of ready-to-drink (RTD) products, beer, wine and spirits.





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