date:Jul 07, 2014
Diageo has acquired a further 26% of United Spirits for 1.117 billion to increase its stake in Indias largest spirits group in India to 54.8%.
Diageos prior interest in United Spirits was 28.78%, which was acquired for 726.6 million. Diageo has paid a total of (1.84 billion for its current stake of 54.8%.
Ivan Menezes, chief executive of Diageo, says: India has now become one of Diageos largest markets and will be a major contributor to our growth ambitions. USL is the leading player in the at