Shaw Wallace is set to merge with United Spirits in India next year.

United Spirits, part of the UB Group, said today (29 November) that it will look to make the move in April.

As per the terms of the merger, Shaw Wallace shareholders will get four United Spirits' equity shares of INR10 each for every 17 Shaw Wallace shares of INR10 each, United Spirits said in a statement to the Bombay Stock Exchange.

UB acquired Shaw Wallace through its McDowell subsidiary in 2005.