Join Hands to Build a Smarter India: Sign in | Join now
News

Vijay Mallya: Smart Millionaire or Poor Businessman?

By SiliconIndia  |   Wednesday, 05 December 2012, 02:25 Hrs   |    2 Comments
32
23
61
7
Print Email


 



And on a recent note, The United Spirits (a subsidiary of the UB Group) will soon become a part of the Diageo Company (The Indian arm of the world's largest spirits company). Since Diageo has the international expertise, the company will be able to bring in high-end stake holders for United Spirits, so this acquisition will turn out good for Vijay Mallya and for Kingfisher. Vijay Mallya will become a minority shareholder with a 14.9 percent stake. For the time being, he will remain the chairman of the company.



While clarifying that the money coming in with the Diageo deal will not be used for Kingfisher Airlines' revival, Mallya had said: "Each individual company is a public entity. So the Kingfisher Airlines issues will be resolved by the Kingfisher Airlines and UB Holdings. It would be unfortunate if you try to link this transaction with the airline. Let’s not cross contaminate everything and interrelate everything," as quoted by Business Today.



The deal closed for the crown jewels of Vijay Mallya, the United Spirits, to Diageo, is said to be around 2.1 billion dollars. Mallya often described by those close to him, as a man with nine lives. He has indeed been in umpteen scrapes before and has also been able to easily come out of it. The general outlook is that his luck has definitely run out, but by doing this deal with Diageo he's actually doing a smart thing, getting the 10th life perhaps, as reported by ET.



Experts on SiliconIndia
Zafar  Ahmad
IT Project Manager
Infogain
Prakash  Kumar
Director IT
Delta Electronics In
Aakash  Mulchandani
Sr. Engg
Qualcomm
Siddharth  Sharma
Assistant Manager
Manipal
Guruprasad  Hegde
Founder and CEO
RealGuruu
Suresh  Avantsa
Founder
hubVirt Software
Chayan  Bhattacharjee
HR-Manager
TBG
Manoj Chandraprakash Powar
Managing Partner
Fountainhead
Sign Up for DailyDose and Read the Day's Highlights
Write your comment now
 
Reader's comments(2)
1: Sad to see such a business man with the skills is going down in the market... true story of survival of the fittest !
Posted by:rahul - 05 Dec, 2012
2:
He is not going down, his own skills are always helping him. Mr. Vijay Mallya, The King Of Good Times!
Prashanth Replied to: rahul - 06 Dec, 2012
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   Events   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2014 InfoConnect Web Technologies India Pvt Ltd. all rights reserved