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Diageo boss bullish on China white spirit deal
Drinks giant Diageo is finalising a deal to buy the Chinese baijiu brand Shui Jing Fang, as it seeks to expand its footprint in China.
It's reported that Diageo has offered $950m (£600m) for the company, which it would use to develop the market for Chinese white spirits elsewhere in the world.
Meanwhile Chief executive Paul Walsh remains bullish about Chinese and Asian growth prospects, telling the BBC that emerging markets could soon provide more than half of Diageo's revenues.
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