Diageo Enters Deal to Repurchase Up to GBP1.7B of Shares

By: Trademagazin Date: 2022. 02. 21. 10:18

Diageo PLC said Monday that it has started a share buyback for up to 1.7 billion pounds ($2.31 billion) as part of its return of capital program.

The U.K. alcohol-beverage company has entered into a deal with UBS to undertake the buyback program, with repurchases of GBP1.4 billion to be completed by June 30.

Diageo said this is the third phase of its return of capital program of up to GBP4.5 billion. Under the first two phases, which were completed in early 2020 and 2022, respectively, Diageo repurchased shares with a value of GBP2.25 billion.