United Spirits (USL) has entered into a definitive agreement for sale of its entire shareholding in its wholly owned subsidiary Tern Distilleries to Sri Balaji Impex (SNG), Singapore for consideration of Rs 30 crore. Upon completion of the said sale, Tern Distilleries will cease to be a subsidiary of the company.
United Spirits is the largest spirits company in India and a flagship entity of UB group. It manufactures wide range of whisky, vodka, rum and other spirits.