UNITED SPIRITS

  • No end to trouble for Vijay Mallya, United Bank to declare him and Kingfisher Airlines as wilful defaulters September 3, 2014

    Mumbai: In more trouble for Kingfisher Chairman Vijay Mallya, the Supreme Court has refused to entertain his plea against being declared a 'wilful defaulter' by the United Bank of India. Kolkatabased United Bank has set in motion the process that will declare Mallya and his Kingfisher Airlines as wilful defaulters...
  • Morgan Stanley resumes United Spirits at 'overweight' May 22, 2013

    Mumbai: Morgan Stanley resumes coverage of United Spirits Ltd with an "overweight" rating and a target price of Rs 3,115. The investment bank says new owner Diageo Plc could implement a greater focus on profitable growth for the liquor maker. Morgan Stanley says United Spirits could also focus on the "prestige"...
  • Vijay Mallya sues banks for selling pledged USL shares April 2, 2013

    Mumbai: Liquor baron Vijay Mallya has filed a petition in the Bombay High Court against the lenders to his grounded airline Kingfisher for selling a portion of the pledged shares of United Spirits (USL) worth Rs 100 crore, according to banking sources. The case is listed for hearing at the...
  • Vijay Mallya exits Forbes rich list as his fortune dips March 5, 2013

    New York: Liquor baron Vijay Mallya has been moved out of Forbes' global rich list of 1,226 billionaires, even as the number of Indians in this elite club has grown since last year. With a net worth of USD one billion, Mallya was ranked 45th among 48 Indians on this...
  • Diageo, United Spirits officials to meet this week February 17, 2013

    New Delhi: Top officials of Diageo and United Spirits, including its chairman Vijay Mallya, are likely to meet this week to discuss regulatory and other issues related to their proposed $2 billion deal. The transaction that would see global liquor major Diageo acquiring majority stake in United Spirits Ltd...
  • Sebi clears Diageo's open offer for United Spirits February 5, 2013

    New Delhi: Moving closer to complete its Rs 11,167 crore takeover of majority stake in United Spirits, global liquor giant Diageo Plc has got market regulator Sebi's clearance for an open offer to acquire 26 per cent stake from public shareholders of the UB group firm. As part of the...
  • We're yet to hear from Kingfisher: SBI chief November 24, 2012

    Pune: With barely a week left ahead of the November 30 deadline set by bankers to pump in fresh capital into the grounded Kingfisher Airlines, the lead lender State Bank of India on Saturday said it has not heard from the company so far. "Kingfisher as a company has not...
  • Diageo deal could pull Kingfisher from the brink November 14, 2012

    Mumbai/Delhi: Liquor baron Vijay Mallya's $2.1 billion deal to sell a stake in United Spirits could throw a lifeline to his grounded Kingfisher Airlines, although pulling the carrier back from the brink will not be easy. The flamboyant "King of Good Times" is keeping his plans to himself for now....
  • United Spirits shares jump on Diageo deal November 12, 2012

    Mumbai: Shares of United Spirits Ltd jumped as much as 21 per cent on Monday to a twoyear high after several brokerages upgraded the stock, saying the Indian liquor company sold a stake to Diageo at a higherthanexpected price. Morgan Stanley raised its rating on United Spirits to 'overweight' from 'equalweight',...
  • Diageo to acquire 53.4 pc in Mallya's United Spirits November 9, 2012

    New Delhi: Vijay Mallya owned United Breweries on Friday signed a $2 billion deal with Diageo group and sold controlling stake of 53.4 per cent in United Spirits Limited (USL). Announcing the deal, Mallya said, "The cash infusion will help USL deleverage itself. It is a winwin situation for both...
  • UB Group records Rs 34.2 cr secondquarter profit November 9, 2012

    Mumbai: United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore for the second quarter ended September 30, as against Rs 19.5 crore in the yearago period. The revenue of the company, part of Vijay Mallyaled UB Group, also rose to Rs 875 crore in the same...
  • Diageo to buy stake in Mallya's USL for $ 1 bn November 9, 2012

    New Delhi: Vijay Mallyaowned United Breweries has reached a deal with the world's largest producer of spirits Diageo and the deal close to a billion dollars is expected to be announced on Friday. Diageo is likely to take the management control post the deal, while Mallya will continue to remain...
  • Management control, competition norms hit USLDiageo deal October 23, 2012

    New Delhi: Vijay Mallya's quest to raise funds seems to have hit a speed breaker. Sources say that the United Spirits Limitedglobal spirits company Diageo deal has hit a roadblock over issues related to management control. According to sources there are two important issues that have to be clarified. First, about...
  • Diageo to get controlling stake in Mallya's United Spirits October 16, 2012

    New Delhi: Vijay Mallya and senior executives of United Spirits have been in London to finalise the final contours of the deal. A term sheet is ready and is likely to be signed soon, after October 16. There has been buzz for over a month that the deal is close...
  • Diageo in talks with United Spirits to acquire stake September 25, 2012

    Bangalore/London: Diageo and UB Group On Tuesday said they are in talks for a deal under which the UKbased drinks major may pick up stake in the latter's United Spirits, but maintained there is no certainty of the transaction. "Both United Spirits and United Breweries Holdings have issued a statement this...
  • Mallya may sell RCB stake to escape debt trap July 10, 2012

    Bangalore: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB). Vijay Mallya's acquisition of the brand White & Mackay...
  • It's war when it comes to the liquor industry October 18, 2011

    "All is fair in love and war and when it comes to the liquor industry, it is war." This was an extract from a note signed by none other than the man they called the King of Good Times. It landed on the table of Ramesh Vangal, the AsiaPacific head of...
  • Diageo's spirited talks for stake in Mallya's firm fail August 25, 2009

    New Delhi World's largest alcohol player Diageo's protracted efforts for a pie in India's liquor king Vijay Mallya's group firm failed on Tuesday but neither side gave reasons for the abrupt ending. The British firm was to buy 15 per cent stake in Mallya's United Spirits Ltd (USL) and the two...
  • Mallya eyes Chinese markets September 7, 2006

    New Delhi: Vijay Mallya is keen to take a little Indian spirit to China. He will set up a subsidiary to market United Spirits products. UB officials say the company has been receiving inquiries about its products from China and is looking for domestic partners to distribute its products. UB...