SC 13D/A 1 sc0308.txt AMENDMENT NO. 1 Page 1 of 7 --- --- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 AMENDMENT NO. 1 General Mills, Inc. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.10 -------------------------------------------------------------------------------- (Title of Class of Securities) 370334104 -------------------------------------------------------------------------------- (CUSIP Number) -------------------------------------------------------------------------------- Timothy D. Proctor Diageo plc Group General Counsel 8 Henrietta Place London W1G 0NB +44-207-927-5200 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copy to: Richard C. Morrissey Sullivan & Cromwell 1 New Fetter Lane London EC4A 1AN +44-207-959-8900 October 23, 2002 -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 2 of 7 --- --- -------------------------------------------------------------------------------- 1 Name Of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only) Diageo plc -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) N/A -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization England and Wales -------------------------------------------------------------------------------- 7 Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------- BENEFICIALLY 8 Shared Voting Power OWNED BY 79,000,000 EACH ----------------------------------------------------- REPORTING 9 Sole Dispositive Power PERSON 0 WITH ----------------------------------------------------- 10 Shared Dispositive Power 79,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 79,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 21.5% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions) CO -------------------------------------------------------------------------------- Page 3 of 7 --- --- -------------------------------------------------------------------------------- 1 Name Of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only) Diageo Holdings Netherlands B.V. -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) N/A -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization The Netherlands -------------------------------------------------------------------------------- 7 Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------- BENEFICIALLY 8 Shared Voting Power OWNED BY 79,000,000 EACH ----------------------------------------------------- REPORTING 9 Sole Dispositive Power PERSON 0 WITH ----------------------------------------------------- 10 Shared Dispositive Power 79,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 79,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 21.5% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions) HC, CO -------------------------------------------------------------------------------- Page 4 of 7 --- --- -------------------------------------------------------------------------------- 1 Name Of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only) Diageo Midwest B.V. -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) N/A -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization The Netherlands -------------------------------------------------------------------------------- 7 Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------- BENEFICIALLY 8 Shared Voting Power OWNED BY 79,000,000 EACH ----------------------------------------------------- REPORTING 9 Sole Dispositive Power PERSON 0 WITH ----------------------------------------------------- 10 Shared Dispositive Power 79,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 79,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 21.5% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions) HC, CO -------------------------------------------------------------------------------- Page 5 of 7 --- --- This Amendment No. 1 ("Amendment No. 1") amends and supplements the Schedule 13D ("Schedule 13D") of Diageo plc, a public limited company incorporated under the laws of England and Wales ("Diageo"), and Selviac Nederland B.V., a company organized under the laws of the Netherlands and an indirect wholly owned subsidiary of Diageo ("SNBV"), filed with the U.S. Securities and Exchange Commission on November 13, 2001, with respect to the common stock of General Mills, Inc., a Delaware corporation ("General Mills"), beneficially owned by Diageo (the "Shares"). Item 2. Identity and Background. ----------------------- Item 2 of the Schedule 13D is hereby amended and supplemented by adding the following paragraphs at the end thereof. On December 3, 2001, SNBV transferred the Shares to Diageo Midwest B.V. ("DMWBV"), a company organized under the laws of the Netherlands and an indirect wholly owned subsidiary of Diageo. The principal business activities of DMWBV relate to the holding and the financing of certain subsidiaries of Diageo. The principal executive offices of DMWBV are located at Molenwerf 10-12, 1014 BG Amsterdam, The Netherlands. The sole director of DMWBV is Diageo Holdings Netherlands B.V. ("DHNBV"), a company organized under the laws of the Netherlands and an indirect wholly owned subsidiary of Diageo. The principal business activities of DHNBV relate to the holding and the financing of certain subsidiaries of Diageo. The principal executive offices of DHNBV are located at Molenwerf 10-12, 1014 BG Amsterdam, The Netherlands. References to the "Reporting Persons" herein are to Diageo, DMWBV and DHMBW. The name, business address, present principal occupation or employment and citizenship of each of the executive officers and directors of Diageo and DHNBV are set forth in Schedule I hereto and are incorporated by reference herein. During the last five years, to the knowledge of each of the Reporting Persons, none of the persons listed on Schedule I hereto: (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Page 6 of 7 --- --- Item 3. Source and Amount of Funds and Other Consideration. -------------------------------------------------- The third sentence of the first paragraph of Item 3 in the Schedule 13D shall be replaced with the following: In addition, pursuant to the Merger Agreement Gramet received a contingent value right to receive up to $395,000,000 of cash from the Company on April 30, 2003, the 18-month anniversary of the Closing Date, depending on the average of the daily high and low sales prices per share of the Common Stock during the 20 regular trading sessions on the New York Stock Exchange for the 20 full trading days immediately preceding April 30, 2003 (the "Market Value") and the number of shares of the Common Stock still held by Diageo and its subsidiaries on April 30, 2003. The second sentence of the third paragraph of Item 3 in the Schedule 13D shall be replaced with the following: On December 3, 2001, pursuant to the terms of the Stockholders Agreement, SNBV transferred 79,000,000 shares of Common Stock (the "Shares") to DMWBV. As of the date hereof, DMWBV is the current record owner of the Shares. Item 4. Purpose of the Transaction. -------------------------- Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following paragraphs at the end thereof. The Call Option Agreement. On October 23, 2002, DMWBV and General Mills entered into a Call Option Agreement (the "Call Option Agreement") in which DMWBV granted to General Mills a call option over 26,183,088 of General Mills' ordinary shares (the "Option Shares") that are held by DMWBV. Under the Call Option Agreement, from a date no earlier than May 1, 2003 through September 28, 2005, General Mills may exercise the call options subject to certain limitations. If General Mills exercises any call options during the period from September 29, 2005 to October 28, 2005, General Mills will be obligated to exercise the call options in respect of all Option Shares not previously purchased. The premium for the call options was $3.07 per Option Share or an aggregate of $80,382,080.16. General Mills has agreed to pay $51.56 per share upon exercise of the call options. The call options expire on October 28, 2005. The descriptions of the Call Option Agreement in this item and throughout this Amendment No. 1 are qualified by reference to such Call Option Agreement, a copy of which is attached hereto as Exhibit (f). Page 7 of 7 --- --- Item 6. Contracts, Arrangements, Understandings or Relationships -------------------------------------------------------- with Respect to Securities of the Issuer. ---------------------------------------- Item 6 of the Schedule 13D is hereby amended and supplemented by adding the following at the end thereof. As more fully described in Item 4 above, DMWBV and General Mills are parties to a Call Option Agreement. A copy of the Call Option Agreement is attached hereto as Exhibit (f). Item 7. Material to be filed as Exhibits. -------------------------------- Item 7 of the Schedule 13D is hereby amended and supplemented by adding the following at the end thereof. Description Exhibit ----------- ------- Call Option Agreement, dated as of October 23, 2002, by (f) and between Diageo Midwest B.V., a company organized under the laws of the Netherlands, and General Mills, Inc., a Delaware corporation. Joint Filing Agreement, dated as of October 25, 2002 by (g) and between Diageo plc, Diageo Holdings Netherlands B.V. and Diageo Midwest B.V. After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: October 25, 2002 DIAGEO plc By: /s/ Roger H. Myddelton ----------------------- Name: Roger H. Myddelton Title: Company Secretary DIAGEO HOLDINGS NETHERLANDS B.V. By: /s/ Margaretha Gerichhausen ---------------------------- Name: Margaretha Gerichhausen Title: Director By: /s/ Thomas H. Creighton ------------------------ Name: Thomas H. Creighton Title: Director DIAGEO MIDWEST B.V. By: /s/ Margaretha Gerichhausen ---------------------------- Name: Margaretha Gerichhausen Title: Director By: /s/ Thomas H. Creighton ------------------------ Name: Thomas H. Creighton Title: Director SCHEDULE I DIAGEO PLC DIRECTORS AND EXECUTIVE OFFICERS
Name Present Business Address Present Principal Occupation Citizenship ---- ------------------------ ---------------------------- ----------- Directors --------- Lord Blyth of Rowington 8 Henrietta Place, London Chairman and non-executive United W1G 0NB, United Kingdom Director of Diageo Kingdom Paul S. Walsh 8 Henrietta Place, London Chief Executive United W1G 0NB, United Kingdom Kingdom Nicholas C. Rose Kingsley House, 1A Finance Director United Wimpole Street, London Kingdom W1G 0DA, United Kingdom Rodney F. Chase 1 Finsbury Circus, Deputy Group Chief Executive, United London EC2M 7BA, United BP plc Kingdom Kingdom Lord Hollick of Notting Ludgate House, Chief Executive, United United Hill 245 Blackfriars Road Business Media plc Kingdom London SE1 9UY, United Kingdom Maria Lilja Engelbrektsgatan 23, 114 32 Non-executive Director Sweden Stockholm, Sweden John K. Oates 9 Kensington Gate, London Non-executive Director United W8 5NA, United Kingdom Kingdom William S. Shanahan 300 Park Avenue, New York, President, Colgate-Palmolive United States NY 10022, USA Company Paul A Walker Sage House, Chief Executive, The Sage United Benton Park Road, Group plc Kingdom Newcastle upon Tyne NE7 7LZ, United Kingdom Sir Robert Wilson 6 St James's Square, London Chairman, Rio Tinto plc United SW1Y 4LD, United Kingdom Kingdom Executive Officers ------------------ Paul S. Walsh 8 Henrietta Place, London Chief Executive United W1G 0NB, United Kingdom Kingdom
Name Present Business Address Present Principal Occupation Citizenship ---- ------------------------ ---------------------------- ----------- Nicholas C. Rose Kingsley House, 1A Finance Director United Wimpole Street, London W1G Kingdom 0DA, United Kingdom Paul A. Clinton 6 Landmark Square, President, North America Canada Stamford, Connecticut, 06901-2704, USA Stuart R. Fletcher Kingsley House, 1A President, Key Markets United Wimpole Street, London W1G Kingdom 0DA, United Kingdom James N.D. Grover 8 Henrietta Place, London W1G Strategy Director United 0NB, United Kingdom Kingdom Robert M. Malcolm Kingsley House, 1A President, Global Marketing, United States Wimpole Street, London W1G Sales and Innovation 0DA, United Kingdom Ian K. Meakins 8 Henrietta Place, London W1G President, European Major United 0NB, United Kingdom Markets and Global Supply Kingdom Ivan M. Menezes 6 Landmark Square, Chief Operating Officer, North United States Stamford, CT 06901-2704, America United States Andrew Morgan 8 Henrietta Place, London W1G President, Venture Markets United 0NB, United Kingdom Kingdom Timothy D. Proctor 6 Landmark Square, General Counsel United States Stamford, CT 06901-2704, United States Gareth Williams 8 Henrietta Place, London W1G Human Resources Director United 0NB, United Kingdom Kingdom Roger H. Myddelton 8 Henrietta Place, London W1G Company Secretary United 0NB, United Kingdom Kingdom
DIAGEO HOLDINGS NETHERLANDS B.V. DIRECTORS AND EXECUTIVE OFFICERS
Name Present Business Address Present Principal Occupation Citizenship ---- ------------------------ ---------------------------- ----------- Directors --------- Margaretha C.T.M. Molenwerf 10-12, 1014 BG Director of Business & Legal Netherlands Gerichhausen Amsterdam, The Netherlands Director of Diageo Holdings Netherlands Thomas H. Creighton Molenwerf 10-12, 1014 BG Finance Director of Diageo United Amsterdam, The Netherlands Amsterdam Kingdom Peter W.B. Kreutzner Molenwerf 10-12, 1014 BG Global Brand Director Gin & Canada Amsterdam, The Netherlands Portfolio Brands of Diageo Amsterdam Charles D. Coase St James's Gate, Dublin 8, Finance Director of Guinness UDV United Ireland Ireland Kingdom Ravi Rajagopal Kingsley House, 1A Wimpole Controller of Diageo India Street, London W1G 0DA, United Kingdom James D. Marshall 6 Landmark Square, Stamford, Vice President Tax Diageo North United Connecticut 06901-2704, USA America Kingdom Timothy D. Proctor 6 Landmark Square, General Counsel of Diageo United States Stamford, CT 06901-2704, United States Robert J. Moore 8 Henrietta Place, London W1G Treasurer of Diageo United States 0NB, United Kingdom Joel W. Walters 8 Henrietta Place, London W1G Tax Director of Diageo United States 0NB, United Kingdom John O. Stewart 6 Landmark Square, Stamford, Chief Financial Officer of United Connecticut 06901-2704, USA Diageo North America Kingdom
Executive Officers ------------------ There are no Executive Officers of Diageo Holdings Netherlands B.V. EXHIBIT INDEX (f) Call Option Agreement, dated as of October 23, 2002, by and between Diageo Midwest B.V., a company organized under the laws of the Netherlands and General Mills, Inc., a Delaware corporation. (g) Joint Filing Agreement, dated as of October 25, 2002 by and between Diageo plc, Diageo Holdings Netherlands B.V. and Diageo Midwest B.V.