United Spirits Ltd.

Diageo, the world’s biggest spirits maker has increased its stake in United Spirits through an open market transaction. Relay BV, the Dutch arm of Diageo, has purchased 35 lakh shares, or 2.41% stake, in United Spirits through a bulk deal at an average price of Rs 2,474.45 per share.

Following this transaction, valued at Rs 866 crore, UK-based Diageo now owns 28.8% in United Spirits. As of December 2013, Relay BV held 26.37% in United Spirits.

In 2012, Diageo had announced it intends to buy 53.4% stake in United Spirits through promoters and other shareholders, valuing the deal at Rs 11,166.5 crore.

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.