INDIA: Diageo to launch United Spirits offer in January
Diageo's offer will launch next year
JM Financial, which is managing the offer, said that Diageo will look to buy 37.8m shares at an offer price of INR1,440 per share. The cash offer, which closes on 18 January, will total INR54.4bn (US$987m), the filing to the Bombay Stock Exchange yesterday (20 November) said.
Earlier this month, Diageo and United Spirits announced that they had agreed on the UK-based group taking an eventual 53.4% stake in the Indian spirits firm, for INR111.7bn (US$2.05bn). The deal remains subject to regulatory approval, but is expected to complete by March next year.
It brought to an end a long period of media speculation over the deal, which had previously collapsed in 2009.
The ten fastest-growing spirits brands in the US ranked by percentage increase in volume in 2012 versus 2011: ...
- Remy, dead cats and the power of China's new year
- Will Lucas Bols' IPO Bring Much-Needed Stability?
- just the Facts - Top 20 US Beers by Value, Volume
- Focus - Remy Cointreau's YTD Performance by Brand
- Price drops would damage our DNA - Remy Cointreau
- Maxxium UK head to depart for Edrington role
- Diageo inks UK distribution deals
- Diageo's United Spirits stays in red in YTD
- Remy eases declines as China hints at recovery
- Anheuser-Busch to cut 60 bottling jobs
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Edrington Group in Spirits (World)
- Global Consumer Trends and Key Consumer Targets in Alcoholic Beverages
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review