INDIA: KKR to join Diageo in United Spirits stake buy?
KKR, which earlier this month agreed to buy South Korea-based Oriental Brewery from A-B InBev for $1.8bn, is interested in acquiring up to 10% of United Spirits, according to a report by Dow Jones this week.
The newswire said that both KKR and Diageo could buy stakes in the Indian group, which controls around two thirds of India's spirits market and is owned by billionaire Vijay Mallya.
Diageo confirmed earlier this year that it was talks to buy a minority stake in United Spirits. Reports have suggested the drinks giant may buy up to 15%.
Last week, a spokesperson confirmed to just-drinks that talks are continuing, following speculation that the two firms had hit a barrier in negotiations.
Separately, just-drinks understands from sources familiar with the situation that talks between the two groups have yet to resolve the structure a tie-up might take.
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