United Spirits Says Diageo in Talks to Buy Stake in Co

Bangalore: United Spirits, the largest Indian spirits company producing the premium products like Jura, Dalmore, Whyte and Mackay, Black Dog, etc., said UK-based Diageo Plc is in talks to buy stake in the Vijay Mallya (Kingfisher Chairman) owned firm. "United Spirits and Diageo Plc confirm that the UK-based company is in discussion 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 Bombay Stock Exchange. 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 percent at 1,083.70 on the Bombay Stock Exchange at 1146 hrs. The company is also holding its 13th Annual General Meeting (AGM). The UB group is the promoter of USL with a 28 percent stake. Diageo Plc is a British multi-national alcoholic beverages company headquartered in London, United Kingdom. It is the world's largest producer of spirits and a major producer of beer and wine
Source: PTI