Slaughter and May advised Diageo - de-listing of debt securities from New York Stock Exchange and re-listing on London Stock Exchange

Slaughter and May advised Diageo on the voluntary de-listing of certain debt securities from the New York Stock Exchange, the re-listing of such securities on the Official List of the UK Listing Authority and the admission to trading of such securities on the London Stock Exchange’s regulated market.

The transaction, which provides Diageo with cost and administrative efficiencies, concerned nine tranches of Diageo Capital plc’s New York law governed debt securities (which are guaranteed as to the payment of principal and interest by Diageo plc) in an aggregate principal amount of over US$ 6.75 billion. Sullivan & Cromwell LLP advised Diageo as to New York law.