Finally, the world’s largest liquor major Diageo on Friday announced its decision to acquire 53.4% stake in Vijay Mallya-owned United Spirits for $2.1 billion in a two-legged deal.
Diageo entered in agreement of two part with USL and United Breweries (Holdings) under which It will acquire 27.4 per cent stake in USL for Rs.5,725 crore at Rs.1,440 a share, while Mallya will continually stand at his chairman position of USL and UBHL, but work with Diageo in India Whisky market. Read more
As per recent news, Vijay-Mallya’s UB Group is going to sign a deal with the world’s largest spirit group maker Diageo for sale of United Spirits Ltd Stake, hoping to keep on track its debt-laden Kingfisher Airline by raising funds.
Suddenly as the news released, shares of United Breweries hit 52 week high as much 6 per cent to Rs 1,425 in early trade on the BSE on Friday following the Diageo- USL deal worth $3.2 billions. Read more
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