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New York Markets After Hours

Aug. 10, 2018, 4:27 a.m. EDT

Diageo to start buying back GBP1.4 bln of shares

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By Ian Walker

Diageo PLC (DGE.LN) said Friday that it will start buying back up to 1.4 billion pounds ($1.79 billion) of its shares until Jan. 31, under the buyback program approved by the board last month.

The drinks maker, which houses Smirnoff vodka, Johnnie Walker whisky and Gordon's Gin among its brands, said further tranches of the program will be announced during the financial year ending June 30, 2019.

Diageo's board approved a GBP2 billion share buyback program on July 26.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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