Diageo likely to buy 15% stake in USL

United Spirits (USL) the flagship conglomerate of Vijay Mallya, chairman of Kingfisher Airlines has announced that it is in discussions with the world’s major drinks company, Diageo, for a tie up including a minority stake sale.

According to the sources, Diageo could acquire 14.99 percent stake initially and enter the USL board with two representations, besides a distribution partnership in the Indian market.

Stock of United spirits ended (on Wednesday,12 November ) at Rs 772, down 1.66 percent on National Stock Exchange (NSE). The total volume of shares traded on NSE was 385,377 at NSE.

Tagged with