Guinness, Baileys Owner Diageo May Be Acquired By Jorge Paulo Lemann, Brazil's Richest Man

Diageo PLC, the maker of iconic liquor brands like Guinness and Baileys, may be a potential takeover target for Brazilian billionaire Jorge Paulo Lemann and his private equity firm 3G Capital. Lemann, the country's richest man, along with his partners Marcel Telles and Beto Sicupira, is in the early stages of formulating a buyout offer for Diageo, Brazilian weekly Veja reported on Sunday, according to Reuters.