Initializing...

Top Retail Brands

Diageo eyes increased stake in USL

Makes second open offer for $1.9 billion

Tags: retail, retailer, news, Diageo

April 16, 2014  |  comments ( 0 )  | 
Diageo eyes increased stake in USL

Leading liquor maker Diageo has decided to hike its stake in United Spirits to 55 per cent, a company it had acquired in 2012.

Diageo had initially announced plans to acquire a 53 per cent stake in United Spirits for about Rs 11,000 crore in November 2012. However, Diageo was unable to achieve its target with its open offer to acquire a 26 per cent of USL at Rs 1,440 per share receiving a poor response from investors. 


Related News


Comments

Please add your comment:

Rating   

Not readable? Change text.

Enter the characters as seen on the image (case insensitive)

Notify me of followup comments via e-mail

Subscribe for daily newsletter