INDIA: United Spirits to offload United Breweries stake
United Spirits is set to become majority-controlled by Diageo
In a regulatory filing yesterday (7 January), it was revealed that United Spirits has pledged to dispose of its 3.21% share in UB Group's brewing division. The spirits division of UB Group holds 8.5m equity shares in United Breweries.
Financial details of the transaction were not disclosed.
Yesterday, it emerged that Diageo's bid to buy 26% of United Spirits' public shares, as part of a deal to take a controlling stake in the Indian firm, has been delayed. However, the UK group said it still expects the deal to complete in Q1 this year.
Shares in UB Group were today down by 1.15% at INR894.65.
For a category that sells around 146.4m cases annually, it may seem unusual to characterise Rum as a relatively unexploited opportunity. Indeed it is already a diverse and eclectic category with a wid...
The drinks sector is particularly fertile ground for mergers and acquisition activity, with a number of big businesses accustomed to making acquisitions to spur growth, new players popping up all over...
Since the great recession of 2008/2009 Diageo has transformed itself, primarily through acquisition, from being overly focused on mature markets to a more balanced geographic split and if, as seems li...
In a recently-published global briefing 'Diageo in Spirits', Euromonitor International's senior alcoholic drinks analyst Jeremy Cunnington takes a look at what are the challenges facing Diageo in spi...
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- Mike’s Hard Lemonade Could Be a Hard Sell
- just The Preview - Anheuser-Busch InBev's Q4 & FY
- Focus - Suntory Holdings' FY Performance
- Diageo "smart bottle" targets consumers at home
- Suntory whiskey seeks to "eclipse" Diageo, Pernod
- Tesco reinstates Dan Jago following suspension
- Diageo adds Dubai to Johnnie Walker skyline series
- Asahi Beverages CEO to step down - report
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report