Liquor baron Vijay Mallya-promoted United Breweries Group is confident of signing the deal with the world's largest liquor maker, Diageo, for stake sale in United Spirits, which is expected to be announced in the second week of February.
UB Group has been negotiating with Diageo for selling up to 14.9 per cent stake in its group firm United Spirits Ltd (MCLEODRUS.NS<http://in.finance.yahoo.com/q?s=MCLEODRUS.NS>: 48.5 +0.85). "The meeting went off well. The details will be shared in the second week of February," UB group spokesperson said quoting Vijay Mallya, who had a meeting with Diageo officials in New York on Wednesday. Mallya and his senior team comprising UB Group CFO Ravi Nedungadi, USL President and Managing Director Vijay Rekhi and USL CFO P A Murali went to New York to meet their Diageo counterparts on Wednesday for the stake sale. The liquor baron had earlier said, the group is open to selling up to 14.9 per cent of a total of 17 per cent of treasury stocks in USL to a strategic partner, stating USL's command in the India spirits market made it an attractive proposition. United Spirits has over 150 products in its portfolio, including popular brands such as Black Dog, Signature, Royal Challenge and Romanov. Diageo markets brands such as Johnnie Walker Black Label, Johnnie Walker Red Label, Smirnoff, Balleys and Guinness in India from its international portfolio. http://in.biz.yahoo.com/090129/50/6zdrm.html --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
