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Diageo Plc gets CCI nod for stake purchase in United Spirits

01 Mar 2013 Evaluate

UK major Diageo Plc has got fair trade regulator, Competition Commission of India’s (CCI) nod for proposed majority stake purchase in Vijay Mallya-led United Spirits. CCI has approved the proposal, believing the deal will not have adverse impact on competition.

With this deal worth about $2 billion, Mallya's UB group will get needed cash, as its aviation venture Kingfisher Airlines is facing turbulent times. As per the deal, Diageo will acquire up to 53.4% stake in United Spirits, one of the largest spirits firm, within five years.

Peers
Company Name CMP
United Spirits 1430.90
United Breweries 1236.75
Radico Khaitan 4532.45
India Glycols 302.75
Allied Blenders&Dist 696.25
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