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Grand Metropolitan and Guinness have received US approval for their £24bn merger, provided that they sell the worldwide rights to Dewar's whisky and Bombay gin. 16-Dec-1997 Guinness and Grand Metropolitan are thought to have reached agreement with the US Federal Trade Commission to sell two spirits brands in order to clear the way for their merger. 04-Dec-1997 Guinness and Grand Metropolitan will be known as Diageo after their £24bn merger, having decided against the use of the GMG Brands name. 30-Oct-1997 Guinness and Grand Metropolitan have received European Commission approval for their planned £24bn merger, on the condition that they sell their Dewar's and Ainslie's whisky brands in Europe and make some changes to their distribution agreements. 16-Oct-1997 The £24bn merger between Guinness and Grand Metropolitan is now expected to go-ahead early next year, as LVMH has dropped its objection following the offer of a £250m cash sweetener. 14-Oct-1997 Nomura, the Japanese investment bank, is acquiring Inntrepreneur Pub Company, the joint venture between Grand Metropolitan and Foster's, and the Spring Inns chain, for £1.2bn. 22-Sep-1997 Grand Metropolitan is looking to sell a package of 23 Burger King franchises whose owners have gone out of business, and has offered to cut its royalty charges. 13-Sep-1997 Fosters' Brewing Group and Grand Metropolitan are said to be considering a flotation for their Inntrepreneur chain of 3,000 pubs. 26-Aug-1997 Grand Metropolitan is to close its 39 Burger King outlets in France due to their small market share, in order to focus on other European countries such as Germany and Spain where growth prospects are higher. 30-Jul-1997 LVMH of France has increased its stake in Grand Metropolitan from 0.3% to 6.29% at a cost of £792m, and as it also owns a 14% stake in Guinness it could lead to a merger of the three companies' drinks interests. 20-Jun-1997 Grand Metropolitan and Guinness are planning to merge to create the largest spirits and wine group in the world, which will be called GMG Brands and valued at £24bn. 13-May-1997 Grand Metropolitan has sold Aunt Nellie's Farm Kitchens, its US fruit and vegetable business, to Seneca Foods for £15m. 22-Apr-1997 Grand Metropolitan is selling its Suzy, Desobry and Driehoek bakery businesses in the Benelux region to Compagnie Nationale a Portfeuille of Belgium for £8.5m. 20-Feb-1997 Grand Metropolitan is about to announce the trade sale of Shippams Paste savoury spreads for under £20m. 09-Dec-1996 Grand Metropolitan has sold its Pearle Vision chain of optician shops in North America and Europe to Cole National of the US for £140m. 26-Sep-1996 Grand Metropolitan has ended its relationship with Alko of Finland, which means it will no longer distribute Finlandia vodka in the US and Puerto Rico. 07-Sep-1996 Grand Metropolitan is to sell off about two-thirds of its European food business as it aims to focus on just four international brands - Pillsbury, Haagen-Dazs, Green Giant and Old El Paso. 06-Sep-1996 Pillsbury, the Grand Metropolitan subsidiary, is buying Frescarini, the Brazilian maker of dough and fresh pasta, for undisclosed terms. 03-Jul-1996 Grand Metropolitan is to distribute the Southern Comfort and Jack Daniel's whisky brands in the UK for a further eight years, but looks set to lose the contract for Finlandia vodka in the US. 16-Mar-1996 Grand Metropolitan is expanding its Burger King chain in Japan, with Japan Tobacco converting 40-50 outlets to the format over the next 18 months. 15-Mar-1996 Grand Metropolitan could be about to lose the US distribution rights for Finlandia vodka, which could have major implications for its US business. 07-Mar-1996 Grand Metropolitan has admitted that it frequently considers demerging its food business from its drinks business. 21-Feb-1996
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