Diageo completes tender offer of USL

02 July, 2014

Diageo has completed its tender offer for a further 26% share in United Spirits. 

The company has accepted the tender of 37,785,214 shares in United Spirits (USL) at INR 3,030 per share.

Diageo will have a total interest of 54.78% in United Spirits and expect to fully consolidate the results of USL from today.

Ivan Menezes, chief executive of Diageo, said: “Our announcement today is significant for Diageo. India has now become one of Diageo’s largest markets and will be a major contributor to our growth ambitions.

“USL is the leading player in the attractive Indian spirits market with great brands, a unique route to consumer and talented people. We can now combine that strong platform with Diageo's strengths to create a compelling future in India for Diageo, USL and the Indian spirits industry.”





Comment

Christian Davis

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