Tag: Shares

Diageo fly with Mallya’s crown jewel United Spirits

Vijay Mallya with KFA 150x150 Diageo fly with Mallya’s crown jewel United Spirits 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

Strides Arcolab sells its Australian unit to Watson

Pharma 300x202 Strides Arcolab sells its Australian unit to WatsonAs per latest reports, the giant Drug manufacturer company Strides Arcolab Ltd has recently announced that the company has sold its 94 percent shareholding in Ascent Pharmahealth Ltd, its subsidiary with operations in Australia and Southeast Asia, to United States generic drug company Watson Pharmaceuticals Inc.

Meanwhile, the deal was from Watson values Ascent at the market value of around A$375 million.

Further, the reports have said that the transaction includes that the Watson has taken-over the other 6 percent shareholding associated with Ascent’s chief executive officer Dennis Bastas. The deal was inked and closed at the same time. Read more

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