Diageo's sale last week of two-thirds of its stake in US foods conglomerate General Mills generated fees of nearly $120m (€97m) for the four US investment banks that underwrote the deal. This made it one of the most lucrative deals of the year.

The share sale was led by Citigroup, Merrill Lynch, Morgan Stanley and Lehman Brothers. UBS acted as financial adviser.

Nick Gilbert

General Mills

Greenhill

Diageo

Citigroup

Morgan Stanley

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Banks net $120m from Diageo sale

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