INDIA: Diageo, United Spirits move for Pioneer Distilleries shares

By | 12 July 2013

The two groups will bid for full control of Pioneer Distilleries

The two groups will bid for full control of Pioneer Distilleries

Diageo and United Spirits will bid to take full control of the Indian group's subsidiary Pioneer Distilleries with an open offer for INR157.9m (US$2.65m) worth of shares. 

In a filing to the Bombay Stock Exchange yesterday (11 July), Pioneer said the two groups will look to acquire around 2.47m of its shares at INR64.02 per share. The tender period will start on 28 August and end on 11 September, it said. 

The move follows Diageo last week completing on its deal to become the biggest shareholder in United Spirits, upping its stake to 25.02%

Expert analysis

Beer in India

Beer in India industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the India beer market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: Beer & cider, Emerging markets – BRIC, Spirits

Companies: Diageo, United Spirits

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INDIA: Diageo, United Spirits move for Pioneer Distilleries shares

There is currently 1 comment on this article

Very interesting move by Diageo to increase stake in United Spirits Ltd.

 

Sr Gadekar said at 3:07 pm, July 20, 2013

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