Monday 24 July 2017

Five things you should know about the billionaire who is bidding for Guinness maker Diageo

Independent.ie Newsdesk

Independent.ie Newsdesk

Jorge Paulo Lemann, the richest man in Brazil, is understood to be mulling a takeover bid for Irish-listed Diageo, which owns iconic drinks brands such as Guinness and Baileys. Here are five things you need to know about him.

1.  Lemann is Brazil's richest man thanks to his stake in Anheuser-Busch InBev, the world's largest brewer. The company has 16 brands that individually generate over $1bn per year in revenue out of a portfolio of more than 200 brands.

2. He owns the stake through private equity firm 3G Capital together with fellow billionaires and longtime partners Carlos Sicupira and Marcel Herrmann Telles.

3. In 2013 Lemann's private equity firm bought H.J. Heinz & Company for $23bn together with Warren Buffett's Berkshire Hathaway.

4. 3G Capital also has stakes in Restaurant Brands International, which owns Burger King and Tim Hortons and is listed both the New York and Toronto stock exchanges.

5. Lemann is a former Brazilian tennis champion who played at Wimbledon. He has lived in Switzerland since 1999, after an attempted kidnapping of his children.

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