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  Diageo Nears Deal With Turkish Spirits Maker

  Diageo is close to buying Turkish spirits company Mey Içki for between $2 billion and $2.5 billion, a deal that would give the U.K. alcohol giant access to a vast distribution network Turkey.

• Groupon Gears Up to Expand Into China

  Deals website Groupon appears to be making preparations to launch operations in China, a move that could shake up the market for group buying.

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  Hopu's Ong Plans His Own $2 Billion Fund

  Richard Ong, one of Hopu Investment Management's founding partners, is leaving the China-focused private-equity firm to set up his own $2 billion fund, according to people familiar with the situation.

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  Sapporo to Expand in North America

  Sapporo Holdings is mapping out strategies that could involve acquisitions or creating a new plant to meet rising demand for premium beer in North America. In Asia, the Japanese company is expanding its beer and soft-drink business.

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  Hyundai Motor Cuts Its Offer

  South Korean conglomerate Hyundai Motor Group made a reduced offer of $4.47 billion for a controlling stake in Hyundai Engineering & Construction, an official at one of the seller companies said, bringing the drawn-out sale closer to completion.

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  G-20 Deal Reached

• Huawei Ends Bid to Win U.S. Approval for 3Leaf Deal

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  China's U.S. IPO Pipeline Quietly Grows

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  West Australian to Buy Seven Media

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  Woodside Petroleum Profit Up

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  CME, Deutsche Börse Explored Tie-Up

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  China Fuel-Price Bump Complicates Inflation Fight