United Spirits Ltd.

Diageo-controlled liquor firm United Spirits (USL) is looking to reduce its debt by up to Rs 2,000 crore in the next two years, through various measures that include sale of shares and properties earlier owned by embattled businessman Vijay Mallya.

The company has an outstanding debt of over Rs 4,000 crore as on March 31, 2016. Mallya, however, has the first right to buy the properties as part of the deal he had signed with Diageo in February to exit from USL.

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.