Diageo is seeking a majority stake in United Spirits

Diageo is seeking a majority stake in United Spirits

Diageo is reviewing comments made by Indian regulators over its INR111.7bn (US$2.05bn) United Spirits deal, but has yet to receive approval for the transaction.  

Despite local reports today (5 February) that the Securities and Exchange Board of India (SEBI) has signed-off the UK group's bid to take a majority stake in the Indian firm, just-drinks understands that the body is yet to give the green light. A Diageo spokesperson told just-drinks: “We have received SEBI's comments and are considering them.” 

SEBI confirmed on its website that it has sent the company a "letter of observation", but its comments on the deal are not public. 

Last month, Diageo moved to dampen concerns that the deal will be delayed after its bid to acquire public shares in United Spirits was held up. The drinks giant has insisted the deal should complete by the end of calendar Q1.

Diageo last week reported a double-digit rise in first-half operating profits.