Diageo

  • Karnataka High Court summons Vijay Mallya for non-payment of dues September 16, 2013

    Bangalore: In more trouble for the beleaguered Kingfisher boss Vijay Mallya, the Karnataka High Court has summoned him to the court on Tuesday. He has been summoned in relation to a case of the creditors of the Kingfisher group like BNP Paribas, Rolls Royce, and others. The companies had filed...
  • Radico Khaitan: A major success in the Indian spirits industry July 26, 2013

    In business, it helps to keep your ears to the ground. For Abhishek Khaitan, that meant doing the rounds of pubs. He had his first 'eureka' moment while pubhopping in Bangalore. Even as he was studying for an engineering degree in the garden city, the family's distilling and bottling business...
  • 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"...
  • Diageo appoints IIMA alumnus Ivan Menezes as its next CEO May 7, 2013

    London: British liquor giant Diageo has appointed Indianorigin Ivan Menezes as its next chief executive officer. The Britainbased, 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...
  • 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...
  • UB Group in talks with KFA lenders to cut debt February 15, 2013

    New Delhi: UB Group, the parent of debtladen 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. The statement comes days after lenders to Kingfisher said they would move...
  • 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',...
  • India @ 9 with Bhupendra Chaubey November 9, 2012

    India Against Corruption activistturnedpolitician 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....
  • News 360: Arvind Kejriwal targets corporate czars, Congress MP November 9, 2012

    Activistturnedpolitician Arvind Kejriwal on Friday alleged that Rs 6,000 crore in black money was stashed away in 700 HSBC accounts in Geneva, Switzerland. ...
  • 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...
  • USL stake sale: UB Group, Diageo reach agreement November 8, 2012

    New Delhi: The UB Group and Diageo have finally agreed to sign a termsheet 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 GroupDiageo deal. The...
  • Mallya will not sell 'family silver' for Kingfisher October 28, 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 coowns, the...
  • 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...
  • So you think you can mix a killer cocktail? April 6, 2011

    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...
  • 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...
  • Diageo not only suitor for Kingfisher Airlines: Mallya February 27, 2009

    Vijay Mallya, Chairman of the UB Group, speaking on the group search for a strategic partner for Kingfisher Airlines, said he is in discussion with more than one suitor and that Diageo is one on them. He said it is premature to speculate on the timeframe of the deal. Mallya added...