Is China after the secret of Guinness?

July 21, 2009

DIAGEO/Is Beijing trying to get its hands on the secret brewing recipe for Guinness?

China’s sovereign wealth fund has bought a 1.1 percent stake — worth around 240 million pounds – in drinks group Diageo, which owns the legendary Irish stout.

China isn’t yet among the top five markets for Guinness – although Johnnie Walker whisky is apparently a favourite — but the stout does already feature among Diageo’s top brands in South East Asia and Japan.

Officials at China Investment Corp (CIC) probably felt like a stiff drink or a long pint of Guinness after the roasting the fund got for the performance of its investments in Blackstone and Morgan Stanley.

And while its investment in Diageo won’t buy CIC the secret to the Guinness recipe, it should guarantee its officials a warm welcome when they visit the historic plant in Dublin.

7 comments

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Maybe they are just looking for another product to put their mining waste into.

What a stupid dumb article title.

Posted by dave | Report as abusive

“Misleading article title leads to wasted viewer time around the world”

Now there´s an article I would consider reading!

A particularly ill-informed and lacklustre comment by Arthur Perrone, but I agree this article does not inspire the optimum of incisive thoughts!

Posted by Larry | Report as abusive

CIC manages $200 billion of China’s $2100 billion foreign exchange reserves and they are looking to diversify their investment portfolio. China is expected to overtake the US as the largest drinks market by 2021, buying a 1.1% stake in Diageo is investing in what will become a very lucrative market.

While Mr Smith should be congratulated for previous articles I’d question the merits of this article and the point being made. Perhaps he was contemplating a early lunch and a pint or 2?

Posted by The Bailer | Report as abusive

In the tenth century, China led the world with the invention of printing, gunpowder and paper.

But since then it has simply stolen and implimented the ideas of other, better nations. And not always in a legal manner.

So since China has shown the willingness to steal military, economic and technological secrets from others, it is no wonder they would be after the secret of guinness as well.

Posted by Anon | Report as abusive