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

Philip Duff

Duff Said: Awash with rum

As the weather gets bleak Philip Duff turns to the warming notes of rum for comfort. But there are currently several elements unsettling the category

Events

Facebook

Twitter