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.