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Diageo Buys 53.4 % Stake In Mallya's United Spirits At Rs 11,166.5 Cr

NOVEMBER 09, 2012

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UB Group Chairman, Vijay Mallya




Diageo Plc, the world’s largest spirits maker will acquire 53.4 % stake in United Spirits for Rs 11,166.5 crore, which may provide Vijay Mallya relief from the troubled Kingfisher Airlines. It has entered into an agreement with United Breweries (Holdings) Ltd and United Spirits Ltd (USL) to acquire 27.4 % stake in USL, the top liquor company in India at Rs 1,440 per share aggregating Rs 5,725.4 crore




Following these agreements, Mallya will continue as Chairman of USL, and UBHL and will work with Diageo to build the USL business.




As on date, Kingfisher has a total debt burden of over Rs 7,000 crore.













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