The UB Group is considering selling a 26% stake, according to press reports. The Economic Times said today (31 March) that the spirits company will offer the stake to a strategic partner or a financial partner in a new company that it plans to create by merging all of its four existing group companies, including the newly-acquired Shaw Wallace & Co.

Citing a UB source, the paper said that the process of restructuring UB's spirits business under a single entity will be completed within six months.

The UB Group is the parent of McDowell & Co., Shaw Wallace, Herbertsons and Triumph Distilleries. The current plan is to merge its flagship company McDowell & Co. with Herbertsons, before merging Triumph Distilleries with Shaw Wallace to form a single entity, the paper said.

The group expects its valuation to double to almost US$1bn once all its spirits entities are merged.

Last week, McDowell & Co. said that it will acquire up to 54.54% of Shaw Wallace from Jumbo World Holdings for INR8.5bn (US$194m). The deal makes UB Group the world's second-largest spirits producer, with annual sales of around 60m cases.