Processing .....please wait.. 
The article has been forwarded.... 
UB setting eyes on W&M brands
By agencies
|
Wednesday, 16 August 2006, 19:30 IST
MUMBAI: Liquor baron Vijay Mallya has made a snapping entry into the news with plans of acquiring a new company on the table. In what could possibly result as one of the largest overseas acquisitions, investment banking sources close Mallya say that he has offered to acquire select brands of Whyte & Mackay.
UB being among the four or five bidders in the reckoning, the privately held Glasgow-based company could be in the range of £400-£ 500 million ($ 756 million -$945 million). According to reports, Citibank, Standard Chartered and ICICI Bank have reportedly been approached by the UB Group for financial transactions.
The brands of interest include Dalmore Scotch, Vladivar, Isle of Jura Single Malt and Glavya Liquere. In the past, Mallya had shown interest in acquiring tail brands of international spirit companies and Whyte & Mackay was one among them. Denying any plans to acquire the global assets of W&M, the deal may also come under political scrutiny with the pitched battle between Mallya and the powerful Scotch lobby.
If the deal does go through, then it will become the largest overseas deal by an Indian company, tailing Dr Reddys acquisition of Betapharm Arzneimittel (Germany) for $570 million. The distribution network of the acquired company would hugely benefit UB products that can be launched in the European market.
Mallya's United Breweries today controls 70 percent of the spirit market in India. His grip on the domestic market tightened after he snapped up Shaw Wallace.