Tag: Vijay Mallya

Kingfisher ready to fly, submits interim revival plan

Dec. 26 Business, India News Comments Off

Kingfisher 150x150 Kingfisher ready to fly, submits interim revival plan Seeking to revoke its suspended flying licence after being grounded fro three months, beleaguered Kingfisher Airlines today submitted its interim revival plan to aviation regulator DGCA just ahead of expiry of its validity on 31 December.

Moreover, DGCA is on examination of KFA financial and operational plan submitted by CEO Sanjay Aggarwal and still no response has given by the regulator. If in favor of airline, it would expect to benefit airline another six-eight weeks to restart operations. Read more

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Kingfisher to fly soon with Rs.425 cr infusion

Dec. 18 Business, India News Comments Off

KFA Promoter Mallya 150x150 Kingfisher to fly soon with Rs.425 cr infusionCurrently the largest cash-strapped airline, Kingfisher is planning to resume its operations very soon, but in limited with a phased manner with investment of Rs.425 crore as a short-term measure.

The company will very soon submit its revival plan to the regulator DGCA, in wake to resume flying licence which suspended on October 20.

As per media information, KGA is likely to have recapitalization plan which will be further discussed with a small designated group of bankers. In list of financiers, Read more

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Diageo to debut United Spirits open offer Rs 5,441-cr in Jan

Nov. 21 Business, India News Comments Off

Vijay Mallya 150x150 Diageo to debut United Spirits open offer Rs 5,441 cr in Jan

Vijay Mallya

The world largest wine maker group Diageo Plc is going to debut its open offer to buy 26% stake in Vijay Mallya-owned United Spirits Ltd, as per of earlier signed deal.

The amount of 26% acquiring stakes would be over Rs 5,441 crore and the process is starting from January next year, as per company saying.

As per United Spirits Ltd (USL) announcement, the open offer will commence on January 7, 2013, and will close on January 18, 2013 under which Read more

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Diageo fly with Mallya’s crown jewel United Spirits

Nov. 10 Business, India News Comments Off

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

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