INDIA/UK: Competition board green lights Diageo's United Sprits stake
By Andy Morton | 1 March 2013
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Diageo first agreed on the deal in November |
India's competition watchdog has approved Diageo's INR111.7bn (US$2.05bn) United Spirits deal, taking it one step closer to a majority stake in the firm.
In a statement on its website yesterday (28 February), the Competition Commission of India said: “The proposed combination is not likely to have an appreciable adverse effect on competition in India”. The commission's approval is one of the regulatory hurdles Diageo must clear before it can complete the deal, announced in November.
In January, Diageo played down fears the deal will be delayed as the timetable for acquiring public shares was revised.
Expert analysis
The IWSR Forecast Report 2012-2017 - Spirits in India
An analysis of current and future trends for the spirits market in India including top-line forecasts for other categories and background information on the market. Analysis is broken down into the following categories: whisky, vodka, gin, tequila, national spirits, rum, cane, Cognac/brandy, liqueurs, bitters and spirit aperitifs, aniseed and fruit and other eaux de vie.
Sectors: Emerging markets – BRIC, Mergers & acquisitions, Spirits
Companies: Diageo, United Spirits
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