date:Dec 12, 2012
ced with sluggish growth in recession-hit European economies, Diageo has been looking to tap burgeoning middle classes in Africa, Asia and Latin America, where it aims to make around half of its turnover by 2015.
A deal with Jose Cuervo, valued at about $3 billion, would have given the British group access to the emerging Mexican spirits market and a stronger product range there to go with its Johnnie Walker whisky and Smirnoff vodka brands.
Diageo, Cuervo's distributor outside Mexico, had bee