Mallya: Faltering fortunes

Diageo has agreed to buy a 53.4% stake in USL for a total consideration of Rs.11,100 crore
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First Published: Fri, Nov 09 2012. 06 07 PM IST
The deal was announced after the close of market trading in Mumbai. Photo: AFP
The deal was announced after the close of market trading in Mumbai. Photo: AFP
Updated: Sat, Nov 10 2012. 12 05 AM IST
Bangalore: Diageo Plc, the world’s largest spirits maker,has agreed to buy a 53.4% stake in United Spirits Ltd (USL) for a total consideration of Rs.11,166.5 crore.
photo
London-based Diageo will acquire 19% promoters’ stake at a cost of £660 million; it will issue fresh equity equivalent to 8% and will make an open offer that will take its stake to a majority holding. The deal was announced after the close of market trading in Mumbai.
The promoters will be left with a 14% stake after the deal.
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First Published: Fri, Nov 09 2012. 06 07 PM IST
More Topics: Vijay Mallya | Diageo | USL | spirits |
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