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LAS VEGAS, NV - MARCH 19: Head mixologist for Diageo Wine and Spirits Elayne Duff speaks at the 28th annual Nightclub & Bar Convention and Trade Show at the Las Vegas Convention Center on March 19, 2013 in Las Vegas, Nevada. LAS VEGAS, NV - MARCH 19: Head mix
strongMumbai:/strong Global liquor major Diageo has submitted details sought by market regulator Sebi regarding its Rs 5,441 crore open offer for buying stake in Vijay Mallya-led United Spirits. The open offer to buy 26 percent stake in United Spirits, which was to start yesterday, was postponed pending final approval from Sebi. Diageo has submitted its replies to clarifications sought by Sebi on the open offer for United Spirits. Sebi will take a decision in due course, a source said. [caption id=attachment_581253 align=alignleft width=380 strongMumbai:/strong Global liquor
UK drinks group Diageo's mandatory tender offer to buy up to 26 percent of shares in India's United Spirits has been postponed as the deal has yet to receive local regulatory approvals, a source with direct knowledge of the matter said on Monday. Diageo agreed in November to buy a 53.4 percent stake in United Spirits Ltd for $2.1 billion under a two-stage process including the mandatory tender offer which was set to open on Monday and close on January 18. [caption id=attachment_580458 align=alignleft width=380 UK drinks group Diageo's mandatory
United Spirits-Diageo may have to divest stake in Whyte & Mackay for the deal between the two companies to sail through, emCNBC TV18/em reported today quoting sources. The company is likely to get 12-18 months to divest stake in Whyte & Mackay, which will help Diageo deal with the scrutiny of anti-trust regulators in the UK and Europe easily. [caption id=attachment_549361 align=alignleft width=380 United Spirits-Diageo may have to d
Diageo will launch a mandatory share tender offer to buy up to 26 percent additional stake in United Spirits from public shareholders on January 7, the manager to the offer said in a notice to the Bombay Stock Exchange. Earlier this month, Diageo agreed to buy a majority stake in United Spirits, controlled by businessman Vijay Mallya, for $2.1 billion, fuelling a push by the world's biggest spirits group into fast-growing markets. [caption id=attachment_529359 align=alignleft width=434 Diageo will launch a mandatory shar
Diageo has agreed to buy a majority stake in United Spirits Ltd, controlled by Vijay Mallya, for $2.1 billion, or Rs 11,000 crore, fuelling a push by the world's biggest spirits group into fast-growing markets. However, the fate of his Kingfisher Airlines was not clear as Mallya chose to delink the United Spirits sale with the United Spirits deal. He adopted a guarded approach on the issue of using the money received from Diageo to bail out the Kingfisher Airlines, which has been grounded since September 30. Each individual company is a public entity. Kingfisher Airlines' issues will be resolved by Kingfisher Airlines and UB Holdings. It would be unfortunate if you try to link this transaction with the airline. Lets not cross contaminate everything and interrelate everything, Mallya said in a conference call after announcing the deal to sell United Spirits stake. Diageo, which first tried to buy United Spirits in 2008, said on Friday it would end up with 53.4 percent of India's largest spirits company in a two-part deal. The Johnnie Walker and Guinness owner has been focusing on emerging markets where a growing middle class is developing a taste for more expensive drinks. Diageo has also been in talks to buy leading tequila maker Jose Cuervo. This (India) will become Diageo's number two market after the United States and if you look at the projections on what's happening with the emerging middle class...it has the potential in the long term to become our largest market, said Diageo Chief Operating Officer Ivan Menezes. [caption id=attachment_521416 align=alignleft width=380 Diageo has agreed to buy a majority
strongNew Delhi:/strong UK-based Diageo's acquisition of 53.4 percent stake in Vijay Mallya-led United Spirits for Rs 11,166.5 crore ($2 billion) could be the biggest inbound M&A deal so far this year. Some of the major inbound deals -- wherein a foreign company or its subsidiary had acquired an Indian entity -- in the past, includes BP's $9 billion acquisition of Reliance Industries' oil & gas assets and the acquisition of Cairn India by NRI billionaire Anil Agarwal led-Vedanta Resources for over $8 billion. The United Kingdom has been one of the top acquirers of Indian assets over the years as another most prominent inbound deal also involved a UK entity -- Vodafone Group. It acquired Essar's stake in Vodafone Essar for $5 billion. [caption id=attachment_520936 align=alignleft width=380 strongNew Delhi:/strong UK-based Di
Diageo was close to a deal for a stake in liquor baron Vijay Mallya's United Spirits Ltd after months of talks, sources with direct knowledge of the matter said, with a deal likely to be announced as soon as Friday. Mallya's possible stake sale of USL comes at a time when Kingfisher Airlines, which is reeling under a debt of Rs 8,000 crore, and accumulated losses of Rs 9,000 crore, is seeking immediate capital infusion. Diageo and United Spirits, which has a market value of $3.2 billion, were expected to sign a deal term sheet soon, the sources said, declining to be named because they were not authorised to speak to the media. The two companies said in September that they were in talks about a possible deal. [caption id=attachment_520077 align=alignleft width=380 Diageo was close to a deal for a st
Diageo is in talks to acquire a stake in Indian billionaire Vijay Mallya's United Spirits, reviving an on-again, off-again courtship that would ramp up its presence in the world's largest whisky market. Mallya has been scrambling for nearly a year to raise funds for his ailing Kingfisher Airlines, prompting market speculation that he may need to offload stakes in United Spirits, India's dominant spirits maker, or United Breweries , producer of his flagship Kingfisher beer. Diageo, the world's biggest spirits group, has long coveted an expanded presence in India. In 2008, the two sides held talks that collapsed, but sources close to the situation said Diageo is hopeful of a deal this time as Mallya is more open to offers. [caption id=attachment_468271 align=alignleft width=380 Diageo is in talks to acquire a sta
INDIANAPOLIS, IN - JULY 29: VP of Marketing Diageo North American Whisky attends Crown Royal presents the Curtiss Shaver 400 at the Brickyard at the Indianapolis Motor Speedway on July 28, 2012 in Indianapolis, Indiana. Shaver was awarded naming rights to Sundays NASCAR Sprint Cup Series race. INDIANAPOLIS, IN - JULY 29: VP of
INDIANAPOLIS, IN - JULY 28: VP of Marketing, Diageo Yvone Briese speaks during Crown Royal VIP event at the Indianapolis Motor Speedway on July 28, 2012 in Indianapolis, Indiana. Shaver was awarded naming rights to Sundays Sprint Cup Series race. INDIANAPOLIS, IN - JULY 28: VP of M
RIO DE JANEIRO, BRAZIL - JULY 11: Finalists in the Diageo Reserve WORLD CLASS finalists compete in the Rio Market challenge during day 3 of the Diageo Reserve WORLD CLASS 2012 Global Final on July 11, 2012 in Rio de Janeiro, Brazil. RIO DE JANEIRO, BRAZIL - JULY 11: