INDIA: UB Group confirms “exclusive” talks with Diageo in India
United Spirits has confirmed that it is in talks with Diageo over a possible partnership in India.
The confirmation, made today (14 November) by company president, Vijay Rekhi, comes after press speculation in the country earlier this week suggested that Diageo may buy a stake in UB.
"We have begun an exploratory dialogue with Diageo to identify partnership opportunities," Rekhi said at the IndSpirit conference in Mumbai. "We have entered into exclusive discussions with Diageo for a limited period."
Rekhi declined to comment further on the talks, with Diageo's managing director in India, Adil Asif, also declining to expand.
Press speculation in India earlier this week has claimed that Diageo is considering taking a 15% stake in United Spirits. A spokesperson for Diageo told just-drinks yesterday that the company "is reviewing a possible collaboration" with United Spirits.
"There is no certainty at this stage that these talks will result in a transaction," the spokesperson added.
As owner of some of the world's most successful alcohol brands, Diageo clearly recognises the importance of innovation. Olly Wehring spoke with Syl Saller, global innovations director at Diageo, about...
Kirin Holdings has wasted no time in implementing its new strategy to expand across Asia Pacific and reduce reliance on domestic beer sales....
Already battling the recession, those attending next week's Tax Free World Association (TFWA) Asia Pacific Exhibition are nervously watching developments in the swine flu outbreak, remembering the adv...
Diageo has reported a slide in organic like-for-like sales in its latest quarter, but has reiterated its forecast of operating profit growth for the full-year....
The top ten stories published on just-drinks this week:...
Diageo has confirmed to just-drinks that it plans to expand its pre-mix offering across northern Europe....
Diageo is looking to continue to trial its Guinness Red beer brand in the UK, but has no current time-scale for a wider roll-out....
Investment bank UBS has downgraded Brown-Forman shares from neutral to sell, saying that it does not expect the drinks firm to strike a deal with Bacardi in the near future....
- Is Diageo approaching its "Et tu, Brute" Moment?
- Diageo Q4 & FY - Preview
- SABMiller, Carlsberg, Heineken: Poland's beer itch
- SABMiller's Q1 Sales Performance by Region
- Are Big Spirits Companies Failing to Innovate?
- Diageo comm's director latest to leave
- Global business development head to quit Diageo
- Diageo hit by SEC investigation in US
- just the Winners - IWSC Spirits Trophy Winners
- Suntory sells Louis Royer Cognac for US$110m
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global gin insights - market data, product innovation and consumer trends research