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.”





Digital Edition

Drinks International digital edition is available ahead of the printed magazine. Don’t miss out, make sure you subscribe today to access the digital edition and all archived editions of Drinks International as part of your subscription.

Comment

Nick Strangeway

How bars must adapt to post-Covid industry

Nick Strangeway on how bars must addapt to a new and improved hospiality sector as we emerge from lockdown.

Instagram

Facebook