INDIA: Allied Blenders & Distillers, Tilaknagar Industries in merger talks - report
The two Indian firms are said to be in talks over a merger
India's Allied Blenders & Distillers (ABD) is in talks with its rival, Tilaknagar Industries, over a possible merger, according to local reports.
ABD, owner of India’s top-selling whisky brand, Officer’s Choice, has discussed creating a combined US$1bn entity with Tilaknagar, unnamed sources have told The Times of India this week. Last month ABD said it was looking to raise $100m through a private equity tie-up.
The company is 95%-controlled by Kishore Chhabria, with the rest owned by the company’s executive vice-chairman & CEO, Deepak Roy.
Publicly-listed Tilaknagar is 56%-owned by The Dahanukar family. Its Mansion House brand is the world's second-largest selling brand behind McDowell's.
The talks are preliminary and there is no certainty of a deal, the source was reported as saying.
Both companies have yet to respond to an emailed request for comment from just-drinks.
Separately, Diageo this week kicked-off a public share offer for 26% of United Spirits, as it seeks to gain majority-control of the Vijay Mallya-headed firm.
Two entities expressed "serious interest" in buying collapsed wholesaler Waverley TBS after it called in administrators last year, it has emerged. ...
Diageo's renewed focus on its Don Julio Tequila brand in the US is producing solid growth in the on-trade, with opportunities to expand further, according to latest figures....
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