Diageo's Turkish Group Accused Of Breaking Competition Law
Diageo's Turkish Group Accused Of Breaking Competition Law
Feb 18, 2013 6
(Fool) - Turkey's Competition Board has announced that it has opened an investigation into Diageo's (LSE: DGE) (NYSE: DEO.US) Turkish spirits group Mey Icki on the grounds that it "breached competition rules by preventing the sale of competitors' products in stores".
Diageo bought Mey Icki, the leading spirits producer and distributor in Turkey, from TPG Capital LP and local private equity group Actera in late 2011 for $2.1bn. Its key brand is Yeni Raki, while it also has a presence in the vodka, wine, gin and liqueur markets.
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