From China Knowledge: China Investment Corp, the country’s US$200 billion sovereign wealth fund, has acquired a 1.1% stake in British distiller Diageo PLC for £221 million, sources reported.

After the deal, CIC will be the ninth largest shareholder of Diageo. In 2008, Diageo set up a separate operating business, Diageo China, to enhance its presence in the Chinese market, sources said……..Full Article: Source