Diageo nears settlement over bribery probe

By Kara Scannell in New York and Louise Lucas in London

Diageo, the world’s largest spirits company, is close to a settlement with the US Securities and Exchange Commission under which it would pay more than $10m to end a long-running bribery investigation, people familiar with the matter say.

Diageo, the UK-based owner of the Smirnoff vodka brand and Guinness beer, has been under SEC scrutiny for several years as the agency investigated whether Diageo employees or contractors paid bribes to government officials in South Korea, India and Thailand.

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