Diageo’s United Spirits deal delayed

8th January, 2013 by Becky Paskin

Diageo’s £1.2bn deal to buy a majority stake in India’s United Spirits has been delayed.

United Spirits Scotch

Diageo will gain a majority share in United Spirits’ local whisky portfolio when the deal completes.

According to reports, part of the Diageo’s deal to by a 53.4% share in the Indian drinks group owned by Vijay Mallya, which is to be completed in two stages, has hit setbacks in India.

Diageo’s mandatory tender offer to acquire up to 26% of United Spirits shares has been delayed, as the group is apparently still waiting for approval from local regulators the Securities and Exchange Board of India and the Competition Commission of India.

The mandatory tender offer was due to begin on 7 January and close on 18 January, but now a new date is expected to be set.

A spokesperson for Diageo said: “The initial timings were clearly outlined as indicative only. We continue to work towards our initial timeline, which would see the transaction completing in Q1 2013.”

Leave a Reply

If that's interesting, how about these?

Amber Beverage tours Fabrica de Tequilas Finos

After recently acquiring Fabrica de Tequilas Finos, Amber Beverage Group more...

Ardgowan recruits former Bruichladdich and Diageo directors

Planned lowland Ardgowan has appointed Bruichladdich's former marketing more...

Asahi Group’s spirits business slips 6.1%

Nikka owner Asahi Group saw its full-year whisky and spirits sales contract more...

Scotch records 'best year' for exports since 2013

Scotch whisky exports have increased by both volume and value for the first more...

Brown-Forman launches nutritional info site

Jack Daniel’s maker Brown-Forman has launched a website detailing its brands' more...

Stoli Group USA details exec appointments

Stoli Group USA has expanded its executive leadership team with a string of more...

SWA urges MEPs to back CETA deal

The Scotch Whisky Association has called on MEPs to back the EU-Canada more...

Bacardi buys minority stake in Ilegal Mezcal

Bacardi has confirmed its acquisition of a minority stake in Ilegal Mezcal, but more...

Mattioni: Premium rums will ‘definitely develop’

The premium-plus rum segment in the UK will "definitely develop", driven by more...

Canadian Club fans vow to stop Centre closure

A tourism board has joined a group of whisky fans to protest the closure of more...

Pernod lobbies against US border tax proposals

Pernod Ricard's CEO Alexandre Ricard has branded the proposed US border levy a more...

Russian Standard Vodka makes debut in Iceland

Russian Standard Vodka has entered the Icelandic market for the first time more...

‘Constructive’ talks over Canadian Club centre

Beam Suntory has met with Windsor mayor Drew Dilkens for “constructive more...

New website lists NY distillery trails

An association of more than 60 distillers across New York has launched a new more...

Catoctin intros 'first' post-Prohibition rye

Virginia-based Catoctin Creek Distilling Company has produced a private label more...

Industry hails EU-Canada CETA deal

Spirits Europe has “warmly welcomed” the European Parliament’s vote to more...

Diageo pips BP to FTSE 100 social top spot

Drinks group Diageo has been named the most effective FTSE 100 company at more...

Pernod Ricard eyes further acquisitions

Following Pernod Ricard’s re-entry into American whiskey with its Smooth more...

Label 5 helps consumers share a 'virtual drink'

La Martiniquaise-owned blended Scotch whisky brand Label 5 has launched a new more...

Brown-Forman extends MSX TR logistics deal

Brown-Forman has extended its travel retail logistics contract with Macintyre more...