Diageo May Finalize Deal On Stake Sale In United Spirits On Friday
Diageo May Finalize Deal On Stake Sale In United Spirits On Friday
Nov 8, 2012 6
(RTTNews) - World's largest spirit maker Diageo may announce deal on stake sale in United Spirits Ltd., or USL, on Friday, reports said, quoting sources.
Vijay-Mallya led UB Group is understood to have reached a deal with Diageo for a stake sale in United Spirits. The exact details such as the quantum of stake and valuation could not be ascertained.
As per various reports, the deal could entail Diageo picking up to 51 percent stake in USL for a consideration between $1 billion and $2 billion.
In September this year, United Spirits confirmed that it was in discussions with UK-based Diageo Plc. for a stake sale.
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