Morgan Stanley Asia (Singapore) has sold 24.50 lakh shares of United Spirits, India’s largest spirits company in an open market transaction. The global financial services firm has sold the shares of Vijay Mallya-led company for over Rs 566 crore.
The shares were purchased by Bank of Nova Scotia Asia at an average price of Rs 2,312.5 apiece. As on May 31, 2013, Morgan Stanley Asia held 58.46 lakh shares of United Spirits representing 4.02% stake in the company.
United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.
