Diageo Plc said it doesn’t plan to sell the Guinness beer brand or its stake in Moet Hennessy, even as pressure grows on the company to find ways to revive growth.

Diageo ( DEO) ADRs rose Friday after Bloomberg reported that the company was looking at a potential spinoff or sale of Guinness, which may be valued at more than $10 billion.

Diageo does not intend to sell its beer brand Guinness or its stake in Moet Hennessy, LVMH's drinks unit, the world's top spirits makers said on Sunday. On Friday, Bloomberg News reported that the company was exploring options for Guinness,

Bloomberg News previously reported that the UK drinks company was reviewing its portfolio, with a spin-off or sale of Guinness under consideration

Shares in Diageo stood at 2,501.5p, up 4.16% on the day. The positions of the Moët Hennessy stake and of Guinness in the Diageo portfolio have periodically been the subject of market speculation. In December 2023, Axios reported Diageo was seeking to sell a clutch of assets in beer but retain Guinness, its flagship brand in that sector.

News about a potential sale of the beer label, a star performer in Diageo's portfolio, helped lift Diageo's shares almost 4% higher, becoming the top percentage gainer on the blue-chip index. However, some analysts and one source familiar with the situation said a Guinness sale right now did not make sense.