Nov 17, 2016
Diageo reverses decision to auction painting
Diageo, the world's largest Scotch whisky producer, has backtracked on its decision to auction one of Scotland's most important paintings, by agreeing instead to gift approximately half the value of "The Monarch of the Glen" to the National Galleries of Scotland. The producer of Johnnie Walker whisky had been due to auction the painting next month through Christie's, which had valued it at £10m. However, the news provoked a public outcry amid fears that the painting was likely to end up in the hands of an overseas buyer. Diageo said on Thursday it had agreed to part-gift the painting to the National Galleries of Scotland, which has launched a fundraising campaign to pay £4m for it. Sir John Leighton, director-general of the National Galleries of Scotland, said he had approached Diageo after hearing about the planned auction. The painting has been on loan from Diageo for the past 17 years to the National Museum of Scotland in Edinburgh.
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