Diageo in talks to buy stake in United Spirits

PTI Mumbai | Updated on November 09, 2012 Published on September 25, 2012

A file photo of United Breweries Group Chairman Vijay Mallya.

United Spirits today said that the UK-based Diageo Plc is in talks to buy stake in the Vijay Mallya-owned firm.

“United Spirits and Diageo Plc confirm that the UK-based company is in discussions with it and United Breweries Holdings in respect of possible transactions to acquire an interest in the liquor firm,” United Spirits said in a filing to the BSE.

It further said: “However, there is no certainty that these discussions will lead to a transaction.”

Shares of United Spirits were trading higher by 2.82 per cent at Rs 1,083.70 on the BSE.

The company is also holding its 13th Annual General Meeting today. The UB group is the promoter of United Spirits with a 28 per cent stake.

Published on September 25, 2012
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