MUMBAI (Reuters) – United Spirits Ltd (UNSP.NS), which is in talks to sell a stake to UK giant Diageo Plc (DGE.L), said on Friday it will sell 935,982 shares in Pioneer Distillers (PION.NS), a stake that at Friday’s price would be worth 45.49 million rupees.
Both companies are controlled by billionaire Vijay Mallya, who has been scrambling to try to raise funds for his embattled Kingfisher Airlines (KING.NS), which has been grounded since the start of the month.
(Reporting by Tony Munroe; Editing by Anand Basu)
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