George Clooney Agrees to Sell Tequila Brand to Diageo

Diageo has agreed to acquire the Tequila brand Casamigos for up to $1 billion. Casamigos was co-founded by George Clooney, Rande Gerber, and Mike Meldman. Diageo, a $76 billion business, expects the transaction to be accretive after three years and to close in the second half of the year. The acquisition has caused a slight decrease in ADRs.

Who are the other co-founders of Casamigos alongside George Clooney?

When is the transaction expected to close?