| | NEWS FLASH
| Diageo Plc, the world's biggest spirits maker, will acquire a controlling 53.4 per cent stake in Vijay Mallya-promoted United Spirits for Rs 11,166 crore (nearly $2 billion), the companies announced in a joint statement today. Mr Mallya will continue in his current role as chairman of United Spirits.
Diageo will acquire a 27.4 per cent stake in United Spirits for Rs 5,725.4 crore from Mr Mallya-promoted UB Holdings and through preferential share issues. After this, Diageo will launch the mandatory buyback offer to acquire an additional 26 per cent stake. This will take its total shareholding to 53.4 per cent. | |
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