INDIA: Radico Khaitan seeking spirits suitors - report
Indian spirits group Radico Khaitan is willing to sell a 26% stake in its business to an international drinks group, according to a local report.
Radico Khaitan has sought to gauge interest with a number of international spirits companies, according to a report in India's Economic Times newspaper yesterday (20 January).
Khaitan holds around a 10% share of the Indian spirits market and already has a joint-venture deal in the country with Diageo.
However, Diageo last autumn held preliminary talks about a possible stake in United Spirits, part of Vijay Mallya's UB Group and the clear market leader, sources familiar with the situation told just-drinks. Should a deal between the two emerge, Diageo would likely be required to end its involvement with Khaitan.
Separately, one analyst told just-drinks in the autumn that a number of international spirits firms, including Bacardi and Japanese group Suntory, were eyeing ways to increase their presence in India.
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