Diageo takes control of Mallya's USL

Discussion in 'Economy & Infrastructure' started by Daredevil, Nov 9, 2012.

  1. Daredevil

    Daredevil On Vacation! Administrator

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    Deal clinched: Mallya set to cede control of USL to Diageo

    Finally, Vijay Mallya has done the deal.

    Diageo is set to buy 53.4 percent stake in United Spirits in a deal worth more than $2 billion, Reuters reported Diageo as saying.

    Both the companies are set top make an announcement after the market hours today, said the report.

    The shares have been rising on speculation of the deal. United Spirits had risen as much as 6.1 percent. PTI

    Shares of United Spirits were trading at Rs 1,355, up 0.9 percent and those of United Breweries Holdings were 2.7 percent up at Rs 134.

    The shares have been rising on speculation of the deal. United Spirits had risen as much as 6.1 percent.

    A crucial meeting between officials of both the companies is expected to take place today between the two parties to finalise the deal, media had reported.

    CNBC-TV18 had earlier reported that Mallya and key employees of his companies were in London on Wednesday, giving finishing touches to the agreement.

    Deal clinched: Mallya set to cede control of USL to Diageo | Firstpost
     
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  3. Tolaha

    Tolaha Senior Member Senior Member

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    Vijay Mallya got a nice money minting brewery business empire from his dad. Using this consistent source of revenue, he diverted it into airlines, Formula one, IPL, glitzy cars and all that high society lifestyle. Now the cash cow is being sold for the indulgences!

    While Konkanis are great businessmen, VM must be a unique one with his "spendthrift" life!
     
  4. Tolaha

    Tolaha Senior Member Senior Member

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    An article on Vijay Mallya that looks at him in a different light:

    Vijay Mallya's last stand : Selling his crown jewel United Spirits - The Times of India

    Excerpts:

     

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