INDIA: Diageo gets regulatory nod for Pioneer Distilleries move
Diageo wants full control of Pioneer
Last month, the UK-headquartered group and United Spirits said they would make an open offer for INR157.9m (US$2.65m) worth of Pioneer's shares. The tender period will start on 28 August and end on 11 September.
“Diageo can confirm that the MTO document has been through the standard SEBI (Securities and Exchange Board of India) review and clearance process," a company spokesperson told just-drinks yesterday (20 August).
The move follows Diageo last month becoming the biggest shareholder in United Spirits, upping its stake to 25.02%. This week, the group's former CEO Paul Walsh was appointed a non-executive director on the United Spirits board.
Following a flurry of activity in the Tequila sector last month, has Diageo finally returned to the point it had previously reached when it handled Jose Cuervo? Richard Woodard compares then to now....
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
India’s largest spirits producer, UB Group’s United Spirits, came under the control of global leader, Diageo, in 2013. The profile analyses the most promising ways forward for United Spirits’ strong d...
The flavoured vodka category has been a growth engine of the spirits sector for some time, but new research from just-drinks suggests that the sub-category no longer represents the easy route to growt...
- Why consumers don't care about vodka's provenance
- Pernod Ricard's FY Performance by Region, Brand
- Japan follows in Scotch whisky's footsteps
- Brown-Forman's Q1 Performance by Region, Brand
- Pernod Ricard's FY fiscal-2015 - Preview
- Diageo launches glass Bulleit & Cola bottles
- Pernod Ricard "in line" after full-year results
- Pernod Ricard releases social medial guide
- Bruno Mars rum rolls out across US
- Brown-Forman CEO unfazed by FX headwinds
- Global gin insights - market data, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research