During Joe Biden’s visit to Dublin, the owner of Guinness, Diageo, announced its decision to abandon its listing on the Irish stock exchange.
The company is also giving up its listing in Paris after reviewing trading on those markets and opting to focus on its primary listing in London and a secondary listing in New York.
Despite Dublin being home to Diageo’s renowned Guinness Storehouse, which attracts a significant number of tourists annually, the company has increasingly been focusing on London. Diageo is presently constructing a brewery and tourist center worth £73m in Covent Garden, due to be operational in the fall of 2023.
According to the company, the decision will not affect its day-to-day operations in Ireland or France. The upkeep of the listings has been costly and intricate.
The announcement coincides with President Biden’s visit to the Irish capital to meet with the Irish president, Michael D. Higgins.
