Mumbai: Shaw Wallance and Company has sold its entire 10.27% stake in Vijay Mallya-promoted United Spirits Ltd (USL) for Rs904.95 crore, through an open market transaction.
Shaw Wallance and Company has sold 10,282,553 shares representing 10.27% stake in the company, United Spirits said in a disclosure on the Bombay Stock Exchange.
In 2005, United Breweries acquired Shaw Wallace & Company, following which it was merged with the group’s flagship company USL last year.
As of March quarter, Shaw Wallace & Company held 10.27% stake and UB Holdings had 23.84% interest in USL.
United Spirits has over 150 products in its portfolio including brands Black Dog, Signature, Royal Challenge and Romanov.