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.
USL markets various liquor brands including Signature, Bagpiper, Antiquity, Royal Challenge, Signature in the country. During the first quarter ended June 30, 2012, USL's sales volumes stood at 3.13 crore.
Mallya-led United Breweries Holdings Ltd (UBHL), the promoter of USL, holds 18.03 percent stake as on September 30.
Bogged down by the troubles of group firm Kingfisher Airlines, Mallya has been forced to find out ways to raise funds as lenders to the carrier have refused to sanction further loans..
State Bank of India (SBI), the largest lender to the airlines, wants the airline's promoters to bring in a minimum of $1 billion (around Rs.5,400 crore) from any source by month-end for its revival. Already the country's aviation regulator has suspended operating permit last month.
For comments and feedback contact: editorial@rttnews.com
Business News
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.