Logo

Diageo set to take over Vijay Mallya’s United Spirits in an Anglo-Indian booze-up

A link from Times of India

Diageo, the UK-based global liquor giant behind brands like Johnny Walker and Smirnoff, is in the process of finalizing the purchase of a 50% share in India’s largest liquor distributor, United Spirits Ltd. That share in USL, which sells half of India’s liquor in a market that has grown 10% per year, will be worth $2 billion. USL majority owner Vijay Malla has a strong incentive to sell. He owns Kingfisher Airlines, which is in financial trouble.

📬 Sign up for the Daily Brief

Our free, fast and fun briefing on the global economy, delivered every weekday morning.

Diageo set to take over Vijay Mallya’s United Spirits in an Anglo-Indian booze-up