United Spirits likely to sell 51% stake in company for nearly US$2B to Diageo, according to media report

INDIA , November 6, 2012 () – The liquor baron Vijay Mallya's United Spirits is likely to sell 51 per cent stake in the company for nearly USD 2 billion to Britain's Diageo Plc, said the media reports.

As per the reports, the deal would involve the direct purchase of a portion of Mallya's holding, the issue of fresh shares and an open offer to buy stock from public shareholders.

The reports come on the back of the statement given by Diageo, makers of Johnnie Walker whisky, which stated that it was in talks with United Spirits and parent United Breweries (Holdings) to potentially "acquire an interest in United Spirits".

The acquisition, as per the media reports, will help Diageo to strengthen its presence in India. Published by HT Syndication with permission from Dion Global Solutions Limited . For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

(c) 2012 Dion Global Solutions Limited

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