United Spirits has received an approval to initiate a process to explore potential sale of Whyte and Mackay, an indirect wholly-owned subsidiary of the company. The board of directors at its meeting held on January 08, 2014 has approved for the same.
The board also approved to the amalgamation of Term Distilleries, a wholly owned subsidiary with the company and amalgamation of SW Finance Company, a wholly-owned subsidiary with 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.
