Launch of partial tender offer for shares in Sichuan Shuijingfang Company Limited

28 Feb 2019 | Press release

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Subsequent to the announcement made on 26 February 2019, the Board of Directors of Sichuan Shuijingfang Company Limited (“SJF”) has been notified that Diageo has launched a partial tender offer, through its wholly owned subsidiary Grand Metropolitan International Holdings Limited (“GMIHL”), to increase its aggregate equity stake in SJF from 60.0% to up to a maximum of 70.0% (the “PTO”).

The PTO price is RMB45.00 per share and gives all shareholders (other than Diageo Highlands Holding B.V. and Sichuan Chengdu Shuijingfang Group Co., Ltd., being wholly-owned subsidiaries of Diageo) the opportunity to elect to sell some or all of their shares in SJF to GMIHL. The maximum number of shares subject to the PTO is 48,854,570 and the PTO period will run from 5 March 2019 to 3 April 2019.

The detailed PTO documents are available in the Chinese language on the website of the Shanghai Stock Exchange (

Further developments in relation to the PTO will be communicated to shareholders in due course.