INDIA: Diageo ups United Spirits holding
The UK-headquartered drinks giant, which announced its plan to take majority control of United Spirits in late-2012, made a 2.4% stake purchase last last week, a spokesperson told just-drinks late yesterday (4 January). Other reports have said that the buy cost Diageo INR2,474.45 (US$39.60) per share.
The firm's original plan to acquire 53.4% of United Spirits has proved a problem to see through. Late last year, Diageo had to deal with a ruling from an Indian court that deemed the sale by UB Group of a 14.98% stake in July as being null and void.
Despite this, Diageo remains the Indian company's major shareholder and controls senior management appointments.
Predictably, the ever-vigilant UK charity Alcohol Concern has complained about the TV ad for Diageo's David Beckham-backed Scotch whisky, Haig Club. ...
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