Diageo raises €1.84bn from share sale

Diageo has raised $2.26bn (€1.84bn) from the sale of 49.9 million shares of common stock held in US-based Cheerios cereal maker General Mills.

The shares were sold for €45.20 before fees. Four million shares were transferred to the Diageo UK pension plan reducing the deficit on post employment plans by £100m (€145.5m)