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Diageo has confirmed it has no plans to sell its iconic beer brand Guinness or its stake in Moet Hennessy, contrary to recent speculation. Despite spirits sales struggling after a pandemic-induced demand surge,

Diageo isn’t alone among distillers in getting hit by a slump in demand, and by a corresponding blow to sales and profit. The shares of rivals such as Pernod Ricard, owner of Jameson Whiskey, Absolut vodka and Beefeater gin, and Cognac producer Remy Cointreau have fallen even further as the pandemic-era boom fizzled out.

Media reports suggested Diageo was considering asset sales to boost growth, cashing in on high demand for Guinness. View on euronews

The drinks giant changed tack over the weekend after declining to comment on a report on Friday (24 January) that it was mulling a potential sale of Guinness.

In response to recent speculation, Diageo (LON:DGE), the global leader in beverage alcohol, has made a statement regarding its ownership of the iconic Guinness brand and its stake in Moët Hennessy. The company confirmed that it has no intention to sell either asset,