date:Nov 12, 2012
After years of negotiation and talks of Diageo picking up a stake in United Spirits, which were rumored to be 15% in 2009 and 27% this year, the British spirit major is set to buy 53.4% stake in USL, a Reuters piece stated. Vijay Mallya is expected to retain the Chairmanship.
The majority stake will be bought for an amount exceeding $2 Bn and would be one of the biggest MA deals in the country.
The deal is expected to give Diageo a greater and major market share in the spirits market of India.