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" liquor segment, improving margins.
The bank also expects capital efficiencies, reduced leverage, strengthened leadership, and consistent disclosures to boost United Spirits' shares. As of 11.07 am, United Spirits shares were up 4.2 per cent at Rs 2,507.
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11:50 AM, May 22, 2013
London: British liquor giant Diageo has appointed Indian-origin Ivan Menezes as its next chief executive officer. The Britain-based, world's biggest spirits group and maker of brands like Smirnoff vodka, Johnnie Walker scotch and Guinness beer, said in a statement on Tuesday that Menezes would take over as CEO with effect from July 1, 2013. Outgoing CEO Paul Walsh will step down from the company's board in the annual general meeting...
05:40 PM, May 07, 2013
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 (USL) -- is yet to receive green signal from fair trade regulator CCI, which is believed to have concerns about possible impact...
12:08 PM, Feb 17, 2013
UB Group, the parent of debt-laden Kingfisher Airlines, said it was in talks with lenders to the carrier to cut their exposure by using proceeds from a stake sale in a group company to Diageo Plc. ...
02:03 PM, Feb 15, 2013
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 deal for purchase of 53.4 per cent stake in Vijay Mallya-led UB group's United Spirits Ltd, Diageo has made a Rs 5,441...
01:40 PM, Feb 05, 2013
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 given us any information or visibility on capital infusion," SBI chairman Pratip Chaudhuri told reporters on the sidelines of the...
05:16 PM, Nov 24, 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. However, his decision to give up control of his group's flagship company as Kingfisher heads towards the point of no...
07:11 PM, Nov 14, 2012
Mumbai: Shares of United Spirits Ltd jumped as much as 21 per cent on Monday to a two-year high after several brokerages upgraded the stock, saying the Indian liquor company sold a stake to Diageo at a higher-than-expected price. Morgan Stanley raised its rating on United Spirits to 'overweight' from 'equal-weight', saying the $2.1 billion deal priced the company "significantly higher" than its base case value. "USL is now a...
11:56 AM, Nov 12, 2012
India Against Corruption activist-turned-politician Arvind Kejriwal on Friday targeted several top Indian business groups and a Congress MP, alleging that they had stashed black money worth several hundred crores in the HSBC Bank in Geneva, Switzerland. He claimed that a senior Congress leader gave him the details about the black money. "The black money from Swiss banks can come but the government doesn't wish to bring it back," Kejriwal said. ...
11:47 PM, Nov 09, 2012
Activist-turned-politician Arvind Kejriwal on Friday alleged that Rs 6,000 crore in black money was stashed away in 700 HSBC accounts in Geneva, Switzerland. ...
10:23 PM, Nov 09, 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 de-leverage itself. It is a win-win situation for both USL and Diageo." Ivan Menezen, the CEO of Diageo, seconded Mallya. He said, "The alcohol market in India will grow...
02:30 PM, Nov 09, 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 year-ago period. The revenue of the company, part of Vijay Mallya-led UB Group, also rose to Rs 875 crore in the same period. The company had recorded revenue of Rs 750 crore in the second quarter of the previous fiscal. On quarter-on-quarter...
09:40 AM, Nov 09, 2012
New Delhi: Vijay Mallya-owned 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 the chairman of United Spirits Limited. The UB Group and Diageo finally agreed to sign the term-sheet for the United...
09:00 AM, Nov 09, 2012
New Delhi: The UB Group and Diageo have finally agreed to sign a term-sheet for the United Spirits Limited stake sale on Friday. Sources say that Diageo will likely take management control of the USL. However, Vijay Mallya will remain the chairman of the USL, post the UB Group-Diageo deal. The UB Group will be selling 27 per cent stake directly to Diageo, which will trigger a mandatory open offer....
08:21 PM, Nov 08, 2012
Greater Noida: Liquor baron Vijay Mallya does not have to do a deal with UK drinks giant Diageo and will not sell prized assets to rescue his grounded Kingfisher airline, he told Reuters at the weekend. Speaking in his office at Force India, the Formula One team he co-owns, the UB Group head poured scorn on media reports that he would be forced to sell stakes in profitable businesses to...
06:12 PM, Oct 28, 2012
New Delhi: Vijay Mallya's quest to raise funds seems to have hit a speed breaker. Sources say that the United Spirits Limited-global 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 the management control and second, about the no extension given to United Spirits to bring down stake in Whyte...
09:20 PM, Oct 23, 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 to the finish line. Although, there are a lot of contours to be figured out yet, the deal is to...
10:05 AM, Oct 16, 2012
Bangalore/London: Diageo and UB Group On Tuesday said they are in talks for a deal under which the UK-based 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 morning stating that they are in discussion with Diageo to potentially acquire a shareholding in United Spirits", UB group...
10:24 PM, Sep 25, 2012
Mumbai: Do you enjoy concocting and serving drinks? Here's some good news for you - this entertainment hub of India will host the finale of Diageo Reserve World Class where bartenders and mixologists from 38 other countries will be put to test through a series of challenges. To be held in July, the competition, which is aimed at celebrating luxury drinks, cocktail culture and the art of bartending, is a...
04:38 PM, Apr 06, 2011
The British firm was to buy 15 per cent stake in Mallya's United Spirits Ltd. ...
08:40 PM, Aug 25, 2009
