India: Latest beverage news & analysis
Finally, after a near four-month delay United Spirits reported its full-year results today.
Finally, after almost 20 months, Diageo has got what it initially wanted in India. The company today (2 July) confirmed it now holds the majority of shares in United Spirits. This achievement, however, has cost way more than Diageo initially expected; to the tune of around US$1bn.
As expected, Diageo has stepped up its bid to take majority control of India’s United Spirits Ltd (USL). The UK-headquartered company has launched a tender offer for a further 26% stake in the UB Group unit, which, if successful would raise its stake to around 55%.
A survey of consumers in India has revealed that alcoholic beverages may have the most to gain from high levels of optimism in the country.
Five years ago this week talk of Diageo taking a stake in United Spirits first emerged. It set in train a series of events that this year saw the Smirnoff producer secure control of the Indian spirits firm.
The Indian division of SABMiller has released an extension of its Miller beer brand in the country.
The SPI Group has confirmed plans to roll out two flavoured variants of its Stolichnaya vodka brand in India.
Diageo has confirmed that three of United Spirits' independent directors are to leave the company's board.
United Spirits has reported full-year net losses of INR44.9bn (US$742.7m), partly due to a significant writedown from the sale of its Whyte & Mackay business.
Diageo has extended its Johnnie Walker House experience to the global Travel Retail sector by launching the concept at Mumbai airport today, with another set to open in Taiwan.
Cutty Sark Scotch whisky is set to launch in India after the brand's owner, Edrington, signed a joint-venture deal with Kyndal Group.
Allied Blenders & Distillers (ABD) has acquired 50% ownership rights for Mansion House brandy and Savoy Club whiskey in south Asia, according to local reports.
PepsiCo has declined to comment on reports that it is looking to cut sugar content in its beverages after CEO Indra Nooyi met with officials in India.
United Spirits, the Diageo-controlled drinks firm, is set to hold a board meeting next week in a bid to approve the unit's delayed full-year financial results.
An Indian state has outlined its first steps to outlawing alcohol, including “dry” Sundays and closing all bars except in luxury hotels.
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