United Spirits Ltd.

United Spirits Ltd (USL) is considering to sell a 49 per cent stake in its Glasgow-based arm Whyte & Mackay to pay off debt which was bought in 2007 for $1.2 billion. The move is part of a drive to cut UB Group's $4 billion (£2.5 billion) debt. There had been interest from 'a number of private equity players' in W&M, which owns single malt whisky brands such as Jura and Dalmore.  UB Group would retain ownership of 51 per cent and that the proceeds would be used to cut USL's debt and to help fund an expansion drive, including the construction of new distilleries and India's biggest glass plant.