Home » Business » Diageo buys fresh 26% in USL for Rs 11,449 crore, gains control
UK-based Diageo paid Rs 3,030 for a share of United Spirits Ltd, more than double of Rs 1,440 it offered in the previous bid last year.
Shares of USL, the flagship company of Vijay Mallya-led UB group, today closed at Rs 2,486.55 a share, up 2.93 per cent from its previous close on BSE.
Diageo through its wholly-owned subsidiary Relay BV has accepted the tender of 37,785,214 shares in United Spirits Ltd at a price of Rs 3,030 per share under the tender offer announced on April 15, Diageo Plc said in a statement.
The shares tendered and accepted by Diageo are in the process of being transferred to Relay B V and represent 26 per cent of USL's issued share capital, it added.
"Diageo, therefore, will have a total interest of 54.78 per cent in USL acquired for a total consideration of Rs 18,023.14
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