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MoneyControl: Proposed USL - Diageo Deal Hits Regulatory Hurdle: Sources

August 9, 2012


From MoneyControl:

The proposed stake sale between Vijay Mallya-owned United Spirits and UK-based Diageo may have hit regulatory hurdles. CNBC-TV18’s Kritika Saxena learns from sources that the proposed USL- Diageo deal has hit antitrust hurdle again.

Diageo, the world's largest spirits company by value, is looking to buy up to 26% stake in USL.

An earlier attempt at stake buy had fallen through back in 2009, after the liquor makers failed to agree on valuation.

Diageo and USL restarted stake sale talks in February of this year. Sources say the proposed deal is expected to close in September.

. . .

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