INDIA: Bacardi silent on Radico Khaitan interest
Bacardi has shown interest in acquiring a stake in Radico, as have several other parties, including entrepreneur Ramesh Vangal, according to a report in India's Economic Times newspaper this week.
A Bacardi spokesperson told just-drinks today (17 April) that the Bermuda-based drinks group does not comment on rumour or speculation.
Radico, which has around a 10% share of the Indian spirits market, currently has a joint venture in India with Diageo. However, Diageo has entered talks with United Spirits about a potential tie-up, which, if successful, would likely force it to break links with Radico.
Bacardi has also been cited as a potential investor in United Spirits, which controls more than 60% of the Indian spirits market and is part of billionaire Vijay Mallya's UB Group.
A spokesperson for Radico could not be reached this afternoon for comment on the stake sale rumours. Radico MD Abhishek Khaitan told the Economic Times this week that the group is not actively seeking a new strategic partner at present, but may do so in the future.
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